Transportation Assignments News

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.

DOCKWISE Ltd today publishes results for the three monthly period ended March 31, 2011. • First payment (USD 35 million) on “T-0”, world’s largest semi-sub heavy lift vessel. • Ongoing optimization of fleet: disposal of MV Explorer. o USD 103 million for execution in 2013 and beyond (USD 76 million at end Q1 2010 for execution in 2012 and beyond). The financial statements have been prepared in accordance with IFRS. * Excludes derecognition MS3 claim Q4 2010 USD 8.7 million. Q1 2010: USD 0.6 million income on debt buy back).