|Dockwise Ltd : Backlog update: Dockwise reports USD 56 million in new contracts|
Breda, the Netherlands, October 16, 2012, DOCKWISE Ltd. today announces that it has been awarded 10 new contracts and contract extensions with a total value of USD 56 million.
The bulk of the contracts were awarded shortly after Q3 close and are for execution in Q4 2012 and Q1 2013. The assignments include an extension on an existing contract, the mobilization of six drilling rigs, the transportation of a pipe-lay vessel and transfer station, and the transportation of a hull for a floating production structure.
André Goedée, CEO of Dockwise said: "Utilization is increasing slowly but pricing levels remain competitive. We currently observe a general market tendency of delays in the completions of a number of larger projects, including some on which we are actively engaged. These delays could impact timing of the conversion of backlog into revenues. We remain encouraged in seeing that no longer term oil & gas projects have been withdrawn and tender activity is unabated."
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About Dockwise Ltd. / Dockwise Group
Dockwise Ltd., a Bermuda incorporated Company, has a workforce of more than 1,300 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, Russia, 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 Norway, Argentina and Italy.
To support all of its services to customers, the group also has three additional engineering centers in Houston, Breda and Shanghai, manufactures specific motion reduction equipment such as LMU (Leg Mating Units) and DMU (Deck Mating Units) and operates a fleet of 24 purpose built semi-submersible vessels (including MV Dockwise Vanguard and MV Finesse).
Dockwise shares are listed on the Oslo Stock Exchange under ticker DOCK and on NYSE Euronext Amsterdam under ticker DOCKW.
For further information: www.dockwise.com
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.