Dockwise Secures $40m in Contracts

Monday, April 12, 2010

Dockwise Ltd. announced seven near-term contract wins for the transportation of four jack-up rigs, jack-up construction vessels, supply boats and a floating crane barge, to be transported to Rio de Janeiro, Brazil; Egypt; Sharjah, UAE; Singapore; Rotterdam, The Netherlands; Chabahar, Iran; and Trinidad, respectively.

Dockwise will execute the bulk of this newly contracted work during the second quarter of 2010. In addition, the Group has secured a variation order, under the Vyborg contract, generating additional sailing days during the first half. Total revenues for the various commitments are expected to reach approximately $40m.

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