SOURCE: Dockwise Ltd

November 21, 2007 02:04 ET

Mighty Servant 3 back at the end of 2008

BREDA, NORWAY--(Marketwire - November 21, 2007) -

The flat deck open stern semi-submersible heavy transport vessel Mighty Servant 3 is due to rejoin Dockwise's operational fleet at the end of 2008 after being fully reinstated at the Grand Bahama Shipyard Ltd. Dockwise Ltd. and Grand Bahama Shipyard Ltd. entered into an agreement for the complete renovation of the Mighty Servant 3.

"The vessel will be stripped completely and reinstated in its original state", says Dockwise's General Manager Fleet Supervision Marco Schut. "For example the engines have already been sent to the manufacturer in Zwolle ( the Netherlands) for a full refurbishment."

Dockwise and Grand Bahama Shipyard Ltd. expect to complete this operation by the end of 2008. "The reinstatement is a vast and complex task, but we have full confidence in our partner on the Bahamas, whom we have worked with on previous projects", says Schut. Grand Bahama Shipyard Ltd. is proud to have been chosen by Dockwise for this challenging project. We believe that we will meet the confidence Dockwise has shown in our shipyard", said Mr. David Dalgleish, Managing Director of Grand Bahama Shipyard Ltd.

The causes of the accident are being investigated by both the Dutch Shipping Council and the Angolan Inquiry Commission. The final conclusions have not yet been published. The Dockwise internal investigation suggests neither technical equipment nor a structural integrity failure. All possible liabilities have been settled with the Angolan government.

Dockwise Ltd. contracted a tug to tow the Mighty Servant 3 from Cape Town to the Bahamas with an expected arrival time on the 1st of February 2008.

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