SOURCE: Dockwise Ltd

June 30, 2008 02:36 ET

Dockwise subsidiary takes delivery of mv TREASURE

BREDA, NORWAY--(Marketwire - June 30, 2008) -

Hamilton Bermuda, 30 June 2008. Following the delivery of mv "TALISMAN" in May 2008, the fourth vessel out of a series of six mv "TREASURE", now joins the fleet of Dockwise Transport, a wholly owned subsidiary of Dockwise Ltd. As was the case with the earlier three, also this vessel is delivered in accordance with the delivery schedule.

The remaining two converted tankers TRIUMPH and TRUSTEE will be delivered at the end of 2008. With the addition of six vessels to the fleet, Dockwise is able to optimize strategic deployment of the 22-vessel fleet to best serve the various markets. More specifically, Dockwise will be able to provide clients with unparalleled flexibility in using various types of vessels, reducing risk and increasing scheduling and contracting opportunities for different clients.

After successfully completing the submerging test and sea trials, mv "TREASURE" has been delivered to the owners on 30 June 2008. The heavy transport vessel is designed to transport complex, high-value cargo like jack-up drilling units and has a carrying capacity in excess of 35,000 tons. This vessel was converted at the COSCO shipyard at Zhoushan, China. During the conversion the entire midship section has been replaced and machinery and equipment were fully revised.

To ensure the most effective way of operating the vessel, Dockwise has appointed Anglo-Eastern Ship Management to provide technical and crew management. As such, the new vessels will operate under the same management systems as the existing Dockwise vessels.

For further information, please contact:

Fons van Lith
Tel : +14415991818

About Dockwise Ltd.

Dockwise Ltd. has a workforce of more than 1200 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 Bermuda with amongst others operational offices in Breda, The Netherlands. The group's main commercial offices are located in The Netherlands, the United States, China, Korea, Australia and Nigeria. The Dockwise Yacht Transport business unit is headquartered in Fort Lauderdale and has offices in France and Italy. The Dockwise Shipping network is supported by agents in Japan, Singapore, Spain, Argentina, Australia and Italy.

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