Dockwise Secures $55m in Contracts

(Press Release)
Wednesday, December 21, 2011

Dockwise Ltd. announced 12 new awards totaling $55m, of which six, to the value of more than $15m, are for execution in Q4 2011. The remaining contracts are for execution in 2012 and 2013. Furthermore the company has entered into a Master Service Agreement (MSA) with Keppel of Singapore for transportation of their jack-up and semi-submersible drilling units. The $55m awards comprise contracts for transportation of four jack-up drilling rigs, one semi-submersible drilling rig, assorted dredging equipment, offshore transfer and elevation platforms and tugs & barges. Transportations in 2012 will now also include a SPAR buoy from Finland to the Gulf of Mexico and a LOI for a multi voyage module transportation assignment.

The Master Service Agreement (MSA) with Keppel of Singapore is similar to the agreement Dockwise announced with Seadrill in spring 2010 and will standardize conditions and accelerate negotiations on single transportation assignments for drilling rigs. 
André Goedée, Chief Executive Officer of Dockwise, commented: "Operating activity remained subdued in the fourth quarter of 2011, reflecting the impact of global trade conditions. Despite this challenge, our business in the period has remained cash positive and will satisfy key performance criteria. Headline results for the quarter may be impacted by an impairment reflecting the sale of our yacht transportation business, DYT, closure of which is expected in Q1 2012. DYT will appear in the 2011 full year results statement under assets held for sale. 
Looking ahead, we firmly continue to pursue business opportunities for the short term. A fundamental increase in activity levels and better pricing conditions are not expected before the second half of 2012. At the same time we continue to be actively engaged in tendering for T&I projects in various important regions and expect a further increase in backlog over time. Current contract developments for the longer term are in my view an encouraging affirmation of client confidence in Dockwise as a partner for challenging projects ahead." 
Dockwise will publish Q4 2011 results on February 14th,2012. The annual report 2011 will be published on March 1st 2012. 
 

Contracts

Elcome Supplies Electronics for Abu Dhabi New Builds

Elcome International is supplying electrical switchboards, safety, monitoring and control systems for three vessels under construction at Abu Dhabi Ship Building (ADSB).

Ingalls Secures Design Work for US Navy’s New LX(R) Ships

Huntington Ingalls Industries (HII) announced that its Ingalls Shipbuilding division has been awarded a $13.7 million contract (with incremental funding) to perform contract design effort for the U.

Hanjin files for Receivership, Ports Turn Away Vessels

Hanjin says asks court for its assets to be frozen; Hyundai Merchant looking to buy Hanjin's "good" assets. South Korea's Hanjin Shipping Co Ltd filed for court

Shipbuilding

Höegh Readies New Horizon Vessels

Höegh Autoliners ordered the latest additions to its fleet, the New Horizon vessels, in which the information technology on board is fully integrated and connected

VLCC Delivered to Gener8 Maritime

Gener8 Maritime, Inc., a U.S.-based provider of international seaborne crude oil transportation services, announced that it has taken delivery of the ECO VLCC the Gener8 Macedon on August 30,

Elcome Supplies Electronics for Abu Dhabi New Builds

Elcome International is supplying electrical switchboards, safety, monitoring and control systems for three vessels under construction at Abu Dhabi Ship Building (ADSB).

 
 
Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0764 sec (13 req/sec)