The problem is either with host IP or port, you are trying to connect. There should be some server listening on that address(host:port) for successful connection .
If above is not the case then could be firewall problem which might be stopping to create a socket.
Have you tried to access the web service using soapUI from the client machine?
If soapUI does not work, then perhaps there is some problem with firewall or such, as suggested in another post.
If soapUI works then there is a problem with your client.