Breda, the Netherlands, 1 April, 2011, Dockwise Ltd., today announces that it has entered into a Master Service Agreement (MSA) with Seadrill Management AS to provide for the transportation requirements of all relevant rigs operated by the Seadrill group, including its subsidiaries.
The MSA provides a framework for all future contracts, standardising and simplifying the booking processes, with associated efficiency savings. The framework will leave only the commercial issues which vary according to which drilling rig is to be transported and voyage, such as prices, demurrage and additional services, to be negotiated for each individual transport.
Seadrill presently has a fleet of 47 drilling units, including semi-submersibles, drill ships, jack-ups and tender rigs, with a further 12 on order and under construction. During the last three years, Seadrill recorded 11 jack-up and five tender rig transports of which six were carried out by Dockwise.
The MSA takes immediate effect, and the first likely transport governed by this arrangement is scheduled to commence during this coming summer when Mighty Servant 1 will transport Seadrill's 28,000 tonne jack-up drilling rig; West Elara from Singapore to Norway.
Andre Goedee, Chief Executive, Dockwise, said:
"We are pleased to sign this ground-breaking agreement with Seadrill, one of our long-standing and highly valued clients. With a globally operating fleet, Seadrill has a year-round requirement for our services. Dockwise is to provide Seadrill with its professional transport service standards under an agreement which will also deliver valuable efficiency gains for our client. The size of the Dockwise fleet and the associated planning flexibility has hereby played an important role."
For further information please contact:
Fons van Lith
Tel : +31 (0)6 51 314 952 or +31 (0)76 5484116
About Dockwise Ltd / Dockwise Group
Dockwise Ltd., a Bermuda incorporated company, 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 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 owns a fleet of 19 purpose built semi-submersible vessels.
Dockwise shares are listed on the Oslo Stock Exchange under ticker DOCK and on NYSE Euronext Amsterdam under ticker DOCKW.
For further information: www.dockwise.com
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.