Announced First Quarter Transportation News

Dockwise Secures $42m in Contracts

Dockwise Ltd. announced nine near-term contracts awarded to its subsidiary, Dockwise Shipping, for the transportation of a jack-up drilling rig, dredging equipment, military and various other cargoes. Total revenues for the contracts, including the previously announced first quarter transportation of the HMS Endurance, are approx $42m. Dockwise Shipping, in company with industry partners, is to transport the drilling rig Soraya to its new assignment in Thailand. On behalf of various clients, Dockwise Shipping has been contracted to transport three dredging cargoes to Japan, Angola and Bahrain, various barges to Angola and Nigeria, cranes and gantries to United Arabic Emirates as well as a project for the Canadian navy. All projects are for execution in the first half of 2009.