The economics of dredging: Maximising returns while minimising costs

Maintenance dredging is essential to keeping ports and harbours fully functional, and to promote the free passage of goods and cargo.

However, dredging costs are constantly rising for port authorities and total spend can be considerable. For instance, 20,000 cubic meters of silt was removed in 2023 from Gloucester Docks to improve water depth and access for boaters last year, with the total spend on dredging expected to be £1.5 million, a quarter of the Canal & River Trust’s national dredging budget.

A larger project in the United States in August 2023, estimated dredging costs of removing 250,000-500,000 cubic yards of silt from city saltwater canals at Palm Coast, Florida, in Summer 2023 to be US$10-20 million, according to engineers.

The good news is that there is a way where maintenance dredging in ports and harbours can be cost-effective, and most importantly, keeping capital expenses, operational expenses and maintenance costs low, and as environmentally conscious as possible: Tiamat.

Our innovative hydrodynamic dredging solution offers port authorities and dredging companies a cleaner and greener method of maintenance dredging, that is easy to deploy, adaptable and economical.

Tiamat was designed and developed by Harwich Haven Authority to help reduce its maintenance dredging cost, which took up to 25% of its annual revenue. Indeed, Tiamat can reduce dredging costs by up to 40%, as it is mounted on a small workboat and does not have to travel back and forth to a disposal site, thanks to the natural redistribution of sediment using tidal energy.

From the work completed in Harwich Haven, the cost of using the Tiamat was £1 per cubic metre, while the cost of using a 7,500 cubic metre TSHD is about £2-£3 per cubic metre. Although these dredging costs will vary over time and between different locations and demands, this shows that the cost of using Tiamat is approximately a third of the cost of a TSHD for removing a cubic metre of sediment from the seabed.

As well as significantly cutting dredging costs. Tiamat reduces the environmental impact of maintenance dredging. By “Dredging with Nature”, Tiamat harnesses the power of the tide and currents to help self-replenish the estuarian system, through natural re-suspension of sediment. And, as Tiamat places the sediment back into the water column at the appropriate depth, there is no evidence that turbidity or water quality is impacted.

As Tiamat reduces the cost of dredging, it can also provide extra income streams for a business and add value to an organisation – whether from a bespoke dredging service, lease or franchise.

Haven Dredging is happy to discuss your dredging needs and create a suitable commercial offering. Let us know your project requirements.