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Dockwise sees strongest ever quarter for contract wins

August 19 - Breda, Netherlands-based heavy marine transport provider Dockwise has had its strongest ever quarter for contract wins, while at the same time seeing a new backlog record in the three month and half year periods ended June 30, 2011 says the co

This was despite fewer projects and a subdued financial performance which saw revenues of USD109 million in Q2, up from USD89m in Q1 while revenues of USD198 million in H1 contrasted with USD207 million in first half year 2010.

André Goedée, Dockwise CEO says: "Tendering volumes and subsequently contract awards, both for production facilities and LNG projects, have continued strongly, and are being sustained through the summer months. We are encouraged by our new record levels of backlog stretching out through to 2015."

These new contracts are predominantly complex tasks such as Chevron's Jack and St Malo project, now confirmed as the first assignment for Dockwise's new flagship, Dockwise Vanguard.

Dockwise says that the pricing and volume weaknesses that have characterised the short-term market in recent quarters persist, and the operator anticipates that the impact on Dockwise may continue into the early months of 2012. Beyond this point, it sees a pick-up, followed by a sustained surge from 2013 of transport and installation (T&I) projects for which tendering shows little sign of abating. The next generation of jack-up rigs and better global economic conditions are set to prompt rise in the usage of port and marine infrastructure services.

Revenues in the heavy marine transport segment in the first half of 2011 were 10 percent higher than in the same period 2010, although project margins were on average lower.

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