The Netherlands: Dockwise Dedicated to Managing New COOEC Heavy Lift Vessel

Dockwise Ltd. today announces a memorandum of agreement with the China Offshore Oil Engineering Company (COOEC) to manage their new build, a 50,000 metric ton deadweight vessel that is similar in size to the Dockwise vessel the Black Marlin.

The vessel is scheduled to be delivered in February 2012. This agreement provides Dockwise with a great opportunity to continue to strengthen its growth in the Transport & Installation markets.

Dockwise operates the largest fleet of specialized vessels in the world: a versatile fleet of 20 semi- submersible vessels of different concepts and designs. Dockwise provides specialty services in Heavy Marine Transport, Transport & Installation and Logistical Management. This agreement provides an excellent win-win situation for both Dockwise and COOEC, a major offshore company in the Asian market who operates one of the world’s largest offshore engineering fleets including 22 diversified vessels such as a 7,500 t self propelled crane vessel, a 3,800 t derrick & lay barge and a 4,000 t deepwater crane and pipe lay vessel.

Wang Mingyang, COOEC Vice President: “The newly built 50,000 t heavy lift vessel is undoubtedly the most advanced in terms of its DP2 system and structure capacity. Cooperation with the best player in offshore heavy lifting industry could definitely provide COOEC with international opportunities and impressive exposure to clients all over the world. We are sure that during this process COOEC could learn from Dockwise the precious experience and technology on vessel operating and management. We sincerely hope more and more customers could benefit from our joint solutions.”

Rob Strijland, Dockwise Chief Operations Officer:“Through this agreement we have the opportunity to manage a unique vessel as part of our diverse fleet. We are glad that COOEC approached us with this opportunity and welcome this partnership of which Dockwise has high expectations. It is a great pleasure to work with the staff of COOEC. Together we are creating opportunities for long-term business success.”

About COOEC

Offshore Oil Engineering Co. Ltd (COOEC) is one of the largest EPCI contractors in the energy engineering sector in the Asia- Pacific region and is listed on Shanghai Stock Exchange. COOEC has accumulated rich experience in providing CD, FEED, basic design, detailed design, consultation and site technical support service for offshore oil and gas development projects, covering jacket, topside, single point mooring system, FPSO modules, jack- up drilling rigs, onshore terminals, pressure vessels etc. Equipped with modern construction facilities and fabrication yards, COOEC provides fabrication services in accordance with international standards and practices for various offshore facilities. COOEC is also capable of fabricating onshore terminals, jetties, refinery plants, pressure vessels, sacrificial anodes, rolled steel pipes and general steel structures. COOEC is capable of performing the load- out, transportation and offshore installation for all kind of jackets, topsides and modules, single point mooring systems for offshore oil and gas developments in 300 m water depth, laying interfiled and trunk pipelines and subsea power cable and power/communication complex cable. COOEC has a complete team of specialists with expertise in the field of underwater inspection, maintenance and repairing, equipped with the most advanced equipments in the world, e.g. the 100 hp underwater Robot made in UK and ACFM underwater structure crack inspection machine, approaching the area of more hi- tech involved offshore underwater facility maintenance and repairing.

About Dockwise Ltd / Dockwise Group

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 and China with sales offices in Korea, Australia, Brazil, Moscow, Singapore, Malaysia, Mexico 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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Source: Dockwise, June 11, 2010;