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Dockwise Ltd: Aasta Hansteen Spar Buoy Third Contract for Dockwise Vanguard

March 20, 2012 - Breda, The Netherlands

Backlog Update: USD 57 Million in Awards

Dockwise Ltd. today announces six newawards totaling USD 57 million, for execution in H1 2012 and 2015.

The wins include a reservation contract, securing the transportation of a sparbuoy for the Statoil operated Aasta Hansteen offshore production field,formerlyknown as the Luva field. The spar buoy, with an approximate length of 200meters, a diameter of 50 meter and weight of 45,000 tonnes, will betransportedon the new build super vessel Dockwise Vanguard from either Korea or Finland,subject to yard choice, to Norway in 2015. Final contract award from Statoilisdependent on formal project sanction for the Aasta Hansteen development.

Further wins for other clients comprise the transport of four drilling rigs toRotterdam, Saudi Arabia and Singapore (all for H1 2012) and a single load ofbarges to Brazil in Q2 2012.

André Goedée, Chief Executive Officer of Dockwise, commented: "Thesecontractwins, particularly a double rig cargo on the Black Marlin from Singapore toRotterdam, are further proof of the rise in activity levels in oil & gasexploration seen since the end of 2011.

The contract win for Dockwise Vanguard underlines our clients' recognition byofthe advantages of a vessel of the scale and capacity of Dockwise Vanguard.Sparbuoys were an asset class that we identified as potential for this vessel andconsequently I am excited that the Aasta Hansteen spar buoy contract is thefirst to materialize of those prospects we are discussing with clients for thepost 2013 period.

We are actively pursuing several short term business opportunities and asbeforeactively tendering for T&I projects in various important regions. As a resultwe are confident of further increases in backlog in due course."

About Dockwise Ltd/Dockwise Group

Dockwise Ltd., a Bermuda incorporated company, has a workforce of more than1200 people both offshore and onshore. The company is the leading marinecontractor providing total transport services to the offshore, onshore andyachting industries as well as installation services of extremely heavyoffshoreplatforms. The Group is headquartered in Breda, the Netherlands. The Group'smain commercial offices are located in The Netherlands, the United States andChina with sales offices in Korea, Australia, Brazil, Russia, Singapore,Malaysia, Mexico and Nigeria. The Dockwise Yacht Transport business unit isheadquartered in Fort Lauderdale and has an office in Genoa, Italy. TheDockwiseShipping network is supported by a global network of agents.

To support all of its services to customers, the group also has threeadditionalengineering centers in Houston, Breda and Shanghai, manufactures specificmotionreduction 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 onNYSE Euronext Amsterdam under ticker DOCKW.

For further information:

This information is subject of the disclosure requirements pursuant to section5-12 of the Norwegian Securities Trading Act.

This announcement is distributed by Thomson Reuters on behalf ofThomson 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#1595477]

For further information please contact:
Fons van Lith
E: Email Contact
T: +31 (0)76 548 4116
M: +31 (0)6 51 314 952


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