Dockwise studies new ultra-heavy transport vessel design

Dockwise is performing a feasibility study for a new “Type 0” semisubmersible vessel capable of transporting very large, very heavy production platforms.

Offshore staff

BREDA, the Netherlands -- Dockwise is performing a feasibility study for a new “Type 0” semisubmersible vessel capable of transporting very large, very heavy production platforms.

To finance the construction, the company looks to raise around $100 million through a fully committed rights issue, which could be wrapped up before the end of this year.

A final investment decision will depend on commercial, technical, procurement, and debt financing. Other considerations include tank tests, available yard capacity, timely delivery, and approval by classification authorities of the design.

The new semisubmersible vessel would be larger than Dockwise’s flagship vessel Blue Marlin, which weighs 73,000 metric tons (80,469 tons). The company hopes to have it available to transport the giant offshore structures expected to come to the market from 2012 onwards.

One of the company’s projects currently in backlog would qualify for transportation on this vessel if it were available before 2013.

Dockwise says its clients are considering building even larger integrated production platforms and spar buoys, design and construction of which is currently limited by available transportation. It is also targeting the purpose-built FPSO market with this new vessel.

CEO André Goedée said:"I am greatly encouraged by the strong show of support from our largest shareholders for this exciting project. This support is a clear sign to potential clients that Dockwise will have the financial wherewithal to really build this unique vessel, if our feasibility studies confirm our commercial and technical ideas."

09/20/2010

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