Dutch-headquartered heavy-lift vessel operator Dockwise has said that it hopes to place its planned order for a new "super" semi-submersible, mono-hull vessel before the end of this year or early next year.
The vessel, which promises to be the biggest in its class with capacity to transport loads of 100,000 tonnes or more, is the company's response to demand from the oil and gas industry for heavier and bulkier offshore structures, notably for deepwater activity.
These structures, it says, are mainly built in the East Asia but need to be transported to exploration and production sites, which are generally situated in West Africa, the Gulf of Mexico and Brazil.
Dockwise announced on November 23 that it had short-listed three shipyards of the eight which responded to its initial call for quotations.
It said that the three would now prepare detailed bids for the contract, which is expected to be worth about US$200 million.
Investor relations manager Fons Van Lith said that the company's objective was to place the order for the vessel before the end of this year or early next and to take delivery of it in the final quarter of 2012.
Meanwhile, the company is completing its arrangements for financing the order. A special shareholder meeting authorised it to proceed with a US$100 million-plus rights issue, for which subscriptions opened on November 29 and closed on December 13.
It also has the support of four banks – ABN AMRO, Deutsche Bank, Rabobank and Royal Bank of Scotland – for a US$110 million increase in an existing revolving credit facility. This would be completed, it said, once the requisite documentation and the rights issue had been completed.
The company has promised a "revolutionary bowless design" for the new vessel, which will offer a deck surface of 275 metres by 70 metres.
At the moment, the company's biggest vessel is the 'Blue Marlin', which has a deck offering a free surface measuring 178.2 by 63 metres and a deadweight of 76,292 tonnes.
Dockwise has indicated that it expects no problem finding employment for the new vessel once it has been completed.
It said that it already had work in its existing order backlog, which would be suited to the new vessel without taking account of anticipated new projects.
With 2.5 voyages per year at a minimum US$30 million per voyage, the vessel would offer an internal rate of return of 15 percent, it said, even if it had no return load.
Andrew Spurrier
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