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BERMUDA : Dockwise gets $55 million deals
Publish Date : 23-Dec-2011
Description Dockwise, a provider of oil and gas service, obtained 12 new deals of worth $55 million.
According to Dockwise, the company will perform six of the deals in Q4 of 2011 while remaining deals will be performed in 2012 and 2013. The deals comprise the transportation of four jack-up drilling rigs, on semi-submersible rig, dredging equipment, offshore transfer and elevation platforms and tugs and barges. The company will also transport a Spar bouy from Finland to Gulf of Mexico in 2012. It had obtained a letter of intent for a multi-voyage module transportation assignment, to be carried out in 2012.
According to Andre Goedee, CEO of Dockwise, the operating activity has continued to be subdued in Q4 and results in this quarter may get affected by an impairment reflecting the sale of company’s yacht transportation business.
Goedee said, “A fundamental increase in activity levels and better pricing conditions are not expected before the second half of 2012. At the same time we continue to be actively engaged in tendering for T&I projects in various important regions and expect a further increase in backlog over time.”
The company also inked a master services deal with Singapore’s Keppel Fels, to standardise conditions and speed up negotiations on single transportation assignments for drilling rigs.
