Dockwise Ltd :DOCKWISE HERALDS ITS TWO NEWEST VESSELS

Dockwise Ltd :DOCKWISE HERALDS ITS TWO NEWEST VESSELS 
BREDA, NORWAY -- (Marketwire) -- 11/01/12 --  
Commissioning of Type 1 MV White Marlin 
Christening Ceremony for Type 2 MV Finesse 
Dockwise subsidiary Fairstar Heavy Transport N.V. today announces the
commissioning of a new Type 1 Vessel to be named White
Marlin and the
christening of its most recent new-build vessel, Finesse. 
On acquiring Fairstar Heavy Transport N.V. in July 2012, Dockwise
took charge of a set of vessel development plans and commitments. The
status of the construction works on the third new-build vessel,
following the Forte and Finesse, provided an opportunity to consider
the optimal configuration for the
new combined fleet. Following
discussions with the fabrication yard, Guangzhou
Shipyard
International (GSI), the original contract, for a Type 2 vessel to
be
named Fathom, has been renegotiated and a commission placed for a
Type 1 vessel
to be named White Marlin. 
White Marlin's specification will give it a capacity and vessel
capabilities
similar to Dockwise's existing Blue Marlin. Scheduled
delivery will be in Q4
2014, for a total investment of USD 150
million with instalments and expenses
due in April 2013 (USD 30
million), December 2013 (USD 30 million) and on delivery in 2014 (USD
55 million). Of the USD 35 million instalments due in 2012 another
USD 10 million is yet to be paid. 
The decision to build a Type 1 rather than a Type 2 vessel, for a
cost increase
of some USD 40 million, removes the requirement Dockwise
faced to withdraw its
existing Type 2, Black Marlin from service in
order to convert it to a Type 1 to satisfy growing demand for larger
vessels. Such a conversion, at an estimated
cost of USD 60 million
would have removed one of Dockwise's most commercially
versatile
ships for up to two quarters during a peak period of activity. 
Andre Goedee, Chief Executive of Dockwise, said: 
"The board of Dockwise is pleased with this outcome. The acquisition
of Fairstar
has allowed us to optimise the operational capacity of the
top end of our fleet.
In White Marlin, we shall have a brand new Type
1 vessel, constructed by a yard
with whom we have built a strong
relationship. We shall also realise a considerable saving on our
existing upgrade plans and keep at sea another important v
essel
during a busy period when our clients have every need of a consistent
service." 
Dockwise also announces that the christening ceremony of Finesse was
performed
at LongXue Shipbuilding, LongXue Island, in Nansha
District, China, on 31October. Finesse is a semi-submersible heavy
Type 2 transport vessel, 216 m
long by 43 m wide, and capable of
transporting cargo up to 50,000 tons. 
The event was witnessed by representatives of Dockwise, Fairstar,
GSI, CSTC, DNV
and clients as well as distinguished guests. Mrs.
Marielle van Wiechen - van
Doorne, acting in the maritime tradition
as godmother to the vessel, performed
the traditional christening
ceremony. Delivery of Finesse is scheduled for end
of November 2012. 
Andre Goedee, Chief Executive of Dockwise, said: 
"We are proud to include Finesse within the Dockwise fleet. It is a
state-of-the-art versatile vessel, built for the best standards of
environmental
performance. The Finesse will substantially broaden our
Logistics Management
capability for clients in the oil and gas
industry as well as other market segments." 
For the full multimedia press release, click here. 
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 [HUG#1654276] 
For further information please contact:
Fons van Lith
M: +31 (0)6 51 314 952
T: +31 (0)76 5484116
E: fons.van.lith@dockwise.com
 
 
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