IADC – International Association of Dredging Companies will host a webinar next month on the importance of managing financial risks in a dredging project.
In this webinar – set for May 4 – the topic of managing financial risks will be linked to the Brisbane Airport dredging and reclamation project.
For any contractor operating worldwide, the exposure to fluctuations between ‘home’ currency and the ‘contract’ currency is a clear and present danger.
If this issue is not addressed when negotiating a contract, it could have a rather large impact on the bottom line of your project.
“The same can be said about the price of fuel. The amount of money spent on fuel is quite large and the price of this commodity can also vary rapidly. So, again the bottom line of your project outcome can be heavily influenced by an increase in the cost of this commodity,” said IADC.
Yves Bosteels of Jan De Nul Group will explain how these two parameters impacted the project’s budget estimate and what a company can do to protect itself against the negative effects of such fluctuations.
Questions such as ‘Why is currency a risk and when exactly?’ and ‘What can you do to protect against this risk?’ will also be addressed.