May 14 - Dockwise has posted revenue of USD33 million for the first quarter of 2009, a 120% rise from USD15 million in the quarter last year, on the back of increased rig shipments.
Revenue for the quarter rose 20% to USD137 million compared with USD114 million last year. Meanwhile, the company stated that its backlog stands at USD407 million, up from USD264 million this time last year.
"The first quarter of 2009 was a period of exceptional performance. An unprecedented 15 rig transports boosted Dockwise revenues and EBITDA. Dockwise's global sales network, together with our fully-optimised 20-vessel fleet, combines a reach in maritime transportation markets with operational flexibility which competitors will find hard to match. These advantages position Dockwise well to cope with the changes in industry and economic cycles. As the year progresses and on the basis of the current backlog the contribution from Offshore\Onshore projects to the overall revenue mix will grow notably," said company boss Andre Goedee.
A number of strategic highlights were noted by the company, including:
- High rig mobility underpins strong Heavy Marine Transport performance
- Further cost reductions with focus on direct expenses
- Fleet optimisation programme in action
- Divestment of Dock Express 10 effective in Q1 2009
- Divestment of Dock Express 12 effective in Q2 2009
- Mighty Servant 3 expected to return to service end May 2009. The 1984-built ship sank in shallow waters off Angola in 2006 and is in the Bahamas for repairs.