July 23, 2010 — Breda; Dockwise Ltd. announces the sale of type IV vessel MV Enterprise
to optimize the composition of the company’s fleet with an increasing focus on premium
cargoes. MV Enterprise has been sold to an undisclosed buyer and will be delivered to
the buyer end of July 2010.
The divestment of this type IV vessel followed from a cost-revenue analysis of the
vessels’ operation in market segments with a relatively low contribution. For that same
reason type IV vessels Dock Express 10 and 12 were sold by Dockwise in 2009. Furthermore
with MV Enterprise having completed almost 30 years of service, maintenance to meet
Dockwise’s offshore equipment standards would require additional investment in Life Time
Extension. The sale of the vessel is in line with plans previously outlined to enhance
the focus of the organization on premium projects requiring the differentiated service
potential of type I, II and III vessels. MV Enterprise will upon delivery to the buyer
be transformed into a floating power plant.
The Q2 2010 figures, to be announced on 12 August 2010, will include a (non-cash) loss
of USD 6 million in order to set back the carrying amount of the MV Enterprise as at 30
June 2010. Dockwise will receive USD 2 million from buyer which will be used for
repayment on debt.
André Goedée, Chief Executive Officer, Dockwise Ltd, said: “Dockwise intends to maintain
market leadership in the heavy marine transport business and to expand value-added
transport services, including engineering, installation and project management. These
areas of work require types I, II and III vessels which create the highest value. This
divestment optimizes the composition of the Dockwise fleet and increases focus on the
premium end of the business.”
Contact: Fons van Lith
+31 651 314 952/+31 76 5484 116
Fons.van.lith@dockwise.com mailto:Fons.van.lith@dockwise.com
About Dockwise Ltd / The Dockwise Group
Dockwise Ltd., a Bermuda incorporated company, has a workforce of more than 1,200
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 for 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 Japan, Norway, Argentina, and
Italy.
To support all of its services to customers, the group also has three additional
engineering centers in Houston, Breda, and Shenzhen, which manufactures specific
motion-reduction equipment, such as LMU (Leg Mating Units) and DMU (Deck Mating Units).
Dockwise shares are listed on the Oslo Stock Exchange under ticker DOCK and on NYSE
Euronext Amsterdam under ticker DOCKW.For more information, visit our website at
www.dockwise.com http://www.dockwise.com/
This information is subject of the disclosure requirements acc. to §5-12 vphl
(NorwegianSecurities Trading Act)