Dockwise books contracts worth $57 million

vanguard-3d-3Heavy lift specialist Dockwise Ltd. reports that it has received six new contract awards, totaling $57 million, for execution in the first half of 2012 and in 2015.

The wins include a reservation contract, securing the transportation of a spar buoy for the Statoil operated Aasta Hansteen offshore production field, formerly known as the Luva field. The spar buoy, with an approximate length of 200 meters, a diameter of 50 meter and weight of 45,000 tonnes, will be transported on the newbuild Type 0 super vessel Dockwise Vanguard from either Korea or Finland, subject to yard choice, to Norway in 2015.

Final contract award from Statoil is dependent on formal project sanction for the Aasta Hansteen development.

Contracts for other clients are the transport of four drilling rigs to Rotterdam, Saudi Arabia and Singapore (all for the first half of 2012) and a single load of barges to Brazil in second quarter 2012.

André Goedée, Chief Executive Officer of Dockwise, commented: "These contract wins, particularly a double rig cargo on the Black Marlin from Singapore to Rotterdam, are further proof of the rise in activity levels in oil & gas exploration seen since the end of 2011.

"The contract win for Dockwise Vanguard underlines our clients' recognition by of the advantages of a vessel of the scale and capacity of Dockwise Vanguard," said Mr. Goedée. "Spar buoys were an asset class that we identified as potential for this vessel and consequently I am excited that the Aasta Hansteen spar buoy contract is the first to materialize of those prospects we are discussing with clients for the post 2013 period.

"We are actively pursuing several short term business opportunities and as before actively tendering for T&I projects in various important regions. As a result we are confident of further increases in backlog in due course." March 20, 2012

Want more? Subscribe now!

News from NASDAQ