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Dockwise to convert contract backlog to firm orders

June 28 - A backlog of multi-million dollar contracts worth more than USD40 million for the moving of offshore equipment and heavyweight barge movements will be completed by Q3 2011, says Dutch leading marine contractor Dockwise.

The most significant of these conversions is the contract for the Gorgon project. Dockwise was awarded a contract on the Chevron-operated Gorgon Project on Barrow Island, off the coast of Western Australia. The contract will start in early 2012 and encompasses the transport of onshore LNG modules. Dockwise's Mighty Servant III has been assigned to the Gorgon Project. The value of the contract is approximately USD26.7 million.

The remaining contracts include activity for the transportation of dredging equipment to Spain and Uruguay, a power barge and jack-up barges to the Dominican Republic and Egypt, jack-up rigs to Gabon, Mexico and Trinidad, a semi-submersible to Vietnam and three contracts relating to the transportation of multiple barges and tugs to Brazil and Colombia.

André Goedée, Dockwise CEO, says: "Operating activity remained subdued in the second quarter of 2011, reflecting industry-wide conditions. However, compared to the first quarter, Dockwise noted a further upturn in enquiries and bookings for spot market projects but still on low cycle pricing levels. We continue to be actively engaged in tendering for longer term projects. In that respect the Gorgon award is considered another important ingredient in improving our long-term backlog."

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