|Dockwise Ltd : Q2 & H1 Results 2012: Performance In-line; Continued Backlog Growth; Fairstar Acquired|
Breda, the Netherlands, August 14, 2012, DOCKWISE Ltd. today publishes results for the three month and Half Year periods ended June 30, 2012.
Financial Highlights Q2 2012
Financial Highlights first Half Year 2012
Strategic Highlights Q2 2012
Post Q2 2012 events
André Goedée, Chief Executive Officer Dockwise, commented:
"After a steady first half in line with expectations, Dockwise looks ahead with optimism on all fronts. The Fairstar acquisition, which accelerates several strategic objectives, has been decisively concluded on good economic terms for our shareholders.
Dockwise is rapidly assembling resources from across the combined group to develop our Logistics Management business; a key aim of the merger. In this division, a fresh combination of people, skills, client relationships and assets give us global leadership in an expanding sector. As an illustration, we already have three vessels on project for the Gorgon development, with a fourth due to join in October.
The fleet review, ahead of a rejuvenation program, is advancing. We presently have 22 vessels, with three to come in the form of our flagship MV Dockwise Vanguard and the two new vessels commissioned by Fairstar. This gives us considerable flexibility both to reshape the overall fleet to suit evolving client needs and to remove redundant tonnage from the market. To that aim we are investigating the option with the yard to upgrade one of the Fairstar newbuilds from a Type II to a Type I size vessel. Dockwise is set to have a younger, better proportioned and more efficient fleet.
Backlog is now in its sixth successive quarter of growth; on a like-for-like basis we have passed our USD 600 million target level and the combined group is moving toward the USD 850 million mark. We have entered an exciting phase of development, and feel strongly encouraged by the prospects for Dockwise.
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This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.