Dockwise is conducting a feasibility study for a new Type 0 semi-submersible vessel to meet the expected increasing demand for transportation of extremely large and heavy production platforms.
In order to cater for financing of this vessel, the company intends, to raise approximately US$100 million through a fully committed rights issue.
The new vessel will increase capacity and further strengthen the top end market position of the company. The FID is subject to commercial, technical, procurement and debt financing feasibility, including for instance tank tests, available yard capacity, timely delivery and approval by authorities. Satisfaction of these conditions is expected before conducting the Rights Issue, which is expected to be finalised before the end of 2010.
The increasing demand for means of transportation for extremely large and heavy production platforms has prompted Dockwise to investigate the options of building a new semi-submersible vessel, larger than its 'Blue Marlin' (73,000 tonnes).
With this new vessel, which would be of a unique design concept, Dockwise is anticipating the production and subsequent transportation of new oil and gas production equipment that is planned to come to the market from the year 2012 and beyond. One of the projects currently in backlog would qualify for transportation on the envisaged vessel if it were available before 2013.
Furthermore, clients have indicated that there is a desire for pre fabrication of even larger integrated production platforms and spar buoys, the design and construction of which is currently limited by the available means of transportation, said the company.
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