Dockwise Ltd. Announces Six Awards Totaling $57 Million

Breda, The Netherlands – Dockwise Ltd. Announced that it had won a reservation contract, securing the transportation of a spar buoy for the Statoil-operated Aasta Hansteen offshore production field, formerly known as the Luva field.

The spar buoy, which has an approximate length of 200 meters, a diameter of 50 meters and a weight of 45,000 tons, will be transported on the new super vessel Dockwise Vanguard from either Korea or Finland, subject to yard choice, to Norway in 2015. The final contract award from Statoil is dependent on formal project sanction for the Aasta Hansteen development.

Further wins for other clients comprise the transport of four drilling rigs to Rotterdam, Saudi Arabia and Singapore (all for H1 2012) and a single load of barges to Brazil in Q2 2012.

"These contract wins, particularly a double rig cargo on the Black Marlin from Singapore to Rotterdam, are further proof of the rise in activity levels in oil and gas exploration seen since the end of 2011,” said André Goedée, Chief Executive Officer of Dockwise. “The contract win for Dockwise Vanguard underlines our clients' recognition of the advantages of a vessel of the scale and capacity of Dockwise Vanguard. Spar buoys were an asset class we identified as potential for this vessel and, consequently, I am excited that the Aasta Hansteen spar buoy contract is the first to materialize of those prospects we are discussing with clients for the post 2013 period. We are actively pursuing several short-term business opportunities and, as before, actively tendering for T&I projects in various important regions.  As a result, we are confident of further increases in backlog in due course."