SOURCE: Dockwise Ltd

April 29, 2008 05:45 ET

New Dockwise contracts for transport of 3 drilling rigs and dredging equipment

HAMILTON, BERMUDA--(Marketwire - April 29, 2008) -


Bermuda, April 29, 2008. Dockwise Ltd. announces that five contracts have been awarded to their subsidiary Dockwise Shipping for the transportation of three drilling rigs and two voyages with dredging equipment.

Dockwise Shipping will transport miscellaneous dredging equipment for Van Oord Dredging & Marine Contractors and Jan de Nul as well as the jack-up drilling rigs Petrojack II, Aban VIII and Deep Driller IV in 2008.

The new build Jack-up drilling rigs Petrojack II and Aban VIII are currently being completed in Singapore, whereas the Deep Driller IV will be relocated.

All contracts contribute to the Dockwise strategic objective to materially expand activities in both rig transport (core business) and transport of offshore production facilities. The total value of the contracts is close to USD 18 million.

Our financial guidance for 2008 is that adjusted EBITDA will increase by at least 60% relative to 2007. Reporting on Q1 results is scheduled for 20 May 2008 before trading.

For further information
Fons van Lith
+31 (0)6 51 31 49 52
Fons.van.Lith@dockwise.com

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. For further information: www.dockwise.com





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