Dockwise Signs Global Agreement: Industry Collaboration

Dockwise Ltd, one of the most capable heavy lift contractors in the world, has signed a major deal with Seadrill to provide transport services for their global fleet of drilling rigs. Please see the press release from Dockwise Ltd below:

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.”