Dockwise Secures $45m in Contracts

Monday, December 01, 2008

Dockwise Ltd. announced nine near and midterm contracts awarded to its subsidiary, Dockwise Shipping, for the transportation of jack- up and semi submersible drilling rigs, dredging equipment and various other cargoes. Total revenues for the contracts are approx $45m.

On behalf of Noble Drilling, Dockwise Shipping is to transport the drilling rig Noble Roy Butler to its new assignment in the Gulf of Mexico.  Following the recent announcement that Dockwise had been contracted to transport the Noble Carl Norberg to the same location, both jack-up rigs will travel in a single journey aboard the same vessel, thus optimizing mobilization time and cost. On behalf of various other clients, Dockwise Shipping will transport three jack-up drilling rigs to Malaysia, China, and Dubai.  Turning to more varied cargo, Dockwise Shipping has been contracted to transport a dredging cargo to Saudi Arabia, the KS Titan 2 liftboat to Rotterdam as well as a workover jack-up to Gabon. All projects are for execution in the final quarter of 2008.

In 2009, Dockwise Shipping will transport the semi-submersible West Setia for Seadrill from its present in-yard location in Singapore to West Africa. In 2010 the newbuild semi-submersible production platform Delba III will be transported to Brasil.

(www.dockwise.com)

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