Netherlands: Dockwise Ltd. Awarded Transport and Installation Contract Worth Circa $65 Million

Dockwise Ltd. today announces two major awards for transport and installation projects and for two routine marine infrastructure transport. Total revenues for the various commitments are expected to reach almost USD 65 million.

Dockwise has agreed a letter of intent (LOI) with one of the oil majors for the transportation in 2013 of a deepwater production platform.

Further to an existing contract already in backlog, under which Dockwise is to transport a production hull to the North Sea, the company has received an LOI from one of the independent oil companies for the second stage of the project. In the second phase, scheduled for 2012, Dockwise will transport the topside unit from the fabrication yard and install in situ, by means of float-over.

Additionally, Dockwise has recently booked two routine port and marine infrastructure transports to Rotterdam and Sjarjah respectively.Client, destination and other details of these projects will be released in due course following contract formalization.

André Goedée, Chief Executive, Dockwise Ltd., said:

“It is a mark of our clients’ confidence in the outlook for the next phase of the cycle that substantial transport and floatover projects for several years hence are tendered now. These awards are proof that Dockwise offers the depth of expertise, asset availability and security to maintain its leading position in this premium segment of the market.”

Dockwise Ltd., a Bermuda incorporated company, has a workforce of more than 1200 people both offshore and onshore. The company is the leading marine contractor providing total transport services to the offshore, onshore and yachting industries as well as installation services of extremely heavy offshore platforms. The Group is headquartered in Breda, The Netherlands. The Group’s main commercial offices are located in The Netherlands, the United States, China, Korea, Australia, Brasil, Moscow, Singapore and Nigeria. The Dockwise Yacht Transport business unit is headquartered in Fort Lauderdale and has an office in Italy. The Dockwise Shipping network is supported by agents in Japan, Singapore, Spain, Norway, Argentina and Italy. To support all of its services to customers, the group also has three additional engineering centers in Houston, Breda and Shenzhen, manufactures specific motion reduction equipment such as LMU (Leg Mating Units) and DMU (Deck Mating Units) and owns a fleet of 20 purpose built semi-submersible vessels.

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Dockwise, May 4, 2010;