Dockwise planning bigger semisub heavy lift ship

With this newly designed vessel, which would be bigger than its 73,000 dwt Blue Marlin, the Dutch company 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, Dockwise’s 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. The company is also targeting the purpose built FPSO market with this new vessel.

Dockwise would fund construction of the newbuilding through a $100 million rights issue and said that its three largest shareholders, HAL Investment B.V., Sankaty Advisors LLC and Project Holland Deelnemingen B.V., have pledged their support for the issue and will vote in favour of it at a special shareholders’ meeting later this year. They have also pledged to subscribe to the rights that are not exercised by other shareholders.

The decision on whether to go ahead with the rights issue is subject to a final investment decision by the Dockwise board that will be made taking into account commercial, technical, procurement and debt financing feasibility, including tank tests, available shipyard capacity, timely delivery and approval by authorities of the novel design.