Dockwise Announces USD 30 Million in Heavy Marine Transport Awards

Breda, The Netherlands, April 1, 2011. Dockwise Ltd. announces that nine awards for Heavy Marine Transport (HMT) have recently been secured by its subsidiary Dockwise Shipping, with a total contract value of more than USD 30 million.

Dockwise has been awarded a contract by Baerfield Drilling LLC to transport the semi-submersible rig ‘SS Amazonia’ from Yantai, China to Angra Dos Reis, Brazil. The rig will be transported using the float-on, float-off method, and is scheduled to commence at the beginning of Q2 2011.

In addition, Dockwise will be transporting the Jack up rig ‘Ben Avon’ for KCA Deutag PTE Limited. After loading the rig in Port Gentil, Gabon, the vessel will remain at the loading location to serve as a semi-submersible dry dock facility and provide for planned dry docking operations to be concluded on the ‘Ben Avon’. Dockwise has also been selected as the contractor of choice by EMAS Offshore Pte Ltd to transport the ‘Lewek Chancellor’ accommodation barge to Luanda, Angola. Execution of this contract has started in Q1 2011.

Other contract awards include the transports of a barge, four jack-up rigs, and a crane barge to various locations in Q1 and Q2 2011.

André Goedée, Chief Executive Officer: “Trading in the first quarter has been disappointingly quiet. Only as the period draws to a close are we starting to see a return to more usual levels of spot market activity than those experienced so far in 2011. Enquiry levels are now steadily translating into booked contracts for the second quarter and beyond.”