Revamped Mighty Servant 3 Rejoins Dockwise's Fleet

Dockwise announced that, through its subsidiary, the fully renewed and reinstated Mighty Servant 3 has rejoined the fleet of Dockwise. The vessel has been under repair at the Grand Bahama Shipyard since January, 2008.

The entire vessel has been rebuilt beginning with the steel hull. New machinery, electrical systems and equipment have been installed to
the latest standards and designs, using the original functionality and foot print.

"This is a reinstatement project in a magnitude that has never been performed before -- no one has ever taken a vessel submerged in 50
meters of seawater for 5 months and brought her back to service. This has been a very unique project," states Eugène van Dodeweerd, Manager Fleet Supervision Quality & Safety of Dockwise Shipping B.V.

The two Wärtsilä (W12V38A) engines were extracted from the vessel locally, fully dismantled and later shipped in parts to Wärtsilä Netherland's workshop in Zwolle.

The accommodations block was extended by inserting an additional layer to accommodate up to 50 persons including crewmembers, visiting
clients and personnel. Additionally all interior elements have been renewed and updated to the most modern standards.

"The Mighty Servant 3 will be available to serve customers to the highest operational and safety standards for transport, installation
and logistical management projects in the future. The return of this vessel to the fleet is a turning point in reinstatement history," André Goedée, Chief Executive Officer of Dockwise Ltd.

Background on Mighty Servant 3

On the morning of December 6, 2006, the semisubmersible vessel Mighty Servant 3 developed a list and sank after the offloading of Transocean's semisubmersible drilling rig, GSF Aleutian Key. The vessel sank approximately one mile off the North Angolan coast to the sea bottom and was submerged in approximately 62 meters of water.  Fortunately, all of the crew members aboard the vessel were rescued and returned home before Christmas.

In January 2007, Dockwise contracted SMIT Salvage to salvage the Mighty Servant 3. Dockwise chose Smit out of four competitors for their experience and the fact that they had equipment ready near the North Angolan coast, where the vessel was located at the sea bottom.