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Dockwise Ltd : Backlog Update: Dockwise Reports near USD 60 Million in new Contracts and Letters of Intent

BREDA, THE NETHERLANDS -- (Marketwire) -- 12/11/12 -- DOCKWISE Ltd. today announces that it has been awarded 6 new contracts, letters of intent and contract extensions with a total value of almost USD 60 million.

The contracts include a material change order for a Vanguard contract delivering the customer a later loading window and 5 shorter term contracts for execution in 2012 and 2013. These assignments include the mobilization of two drilling rigs and the transportation of a yacht- hotel.

Also letters of intent were signed for a float-over project in Asia in 2015 and a second logistics project in the American region utilizing Dockwise's new floating super pallet concept for 2013, confirming market acceptance of this innovation in module logistics.

Andre Goedee, CEO, Dockwise said: "These important contract wins underscore the soundness of our strategy and customer confidence in our capabilities. We continue to see occasional delays in the completions of projects on which we are actively engaged but no longer term oil & gas projects have been withdrawn and tender activity continues in full force."

About Dockwise Ltd. / Dockwise Group

Dockwise Ltd., a Bermuda incorporated Company, has a workforce of more than 1,400 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 25 purpose built semi-submersible vessels (including Dockwise Vanguard, White Marlin and Finesse).

Dockwise shares are listed on the Oslo Stock Exchange under ticker DOCK and on NYSE Euronext Amsterdam under ticker DOCKW.

For further information:

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that:

(i) the releases contained herein are protected by copyright and other applicable laws; and

(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Dockwise Ltd via Thomson Reuters ONE


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