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Dockwise sees promise following announcement of new contracts

December 31 - Dockwise has signed a USD25 million contract with an affiliate of Chevron USA for the transportation of the Jack and St. Malo hull from Korea to the Gulf of Mexico.

A second USD40 million contract for the transportation of the topside for ATP's Cheviot field from the fabrication yard in China to Europe and the associated floatover has also been awarded by Bluewater Industries . The transportation of the hull for ATP Cheviot was already awarded to Dockwise by Bluewater Industries as a separate contract previously.

The company's subsidiary, Dockwise Shipping has also won eight awards for heavy marine transport with a total contract value of USD30 million.

These include the transport of the KS Titan 2 Lift Boat from Rotterdam to Luba, Equatorial Guinea; the transportation of the MENAdrill 1, a Super M2 Jack Up Rig from United Arab Emirates to Mexico and the transport of three additional jack- up rigs.

Dockwise says that in 2010's 4th quarter, the dispute with the former owners of the company regarding reinstatement of Mighty Servant 3 has been settled.

André Goedée, chief executive officer: "Through the year 2010 we have seen a slow increase in utilisation in a stable pricing environment be it on a low level. Long term projects like Koniambo and Vyborg have balanced the spot market dynamics. The year 2011 will have more of a spot market nature than 2010 and is therefore still uncertain from a backlog perspective. However markets that typically demand for these kind of services like for example exploration drilling seem to demonstrate more activity. The years beyond look promising and we continue tendering for interesting projects at the horizon."

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