Dockwise to Unload Yacht Transport Arm

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November 7, 2011

Heavy-lift operator Dockwise today announced plans to sell off its yacht transport arm, Dockwise Yacht Transport (DYT), to focus on its core Heavy Marine Transport (HMT), Transport and Installation (T&I) and Logistical Management activities.  Dockwise said in a statement today that will unload the wholly-owned subsidiary to Coby Enterprises Corp in a cash deal that will be completed sometime in the next quarter.

DYT owns three dedicated vessels; Super Servant 3, Super Servant 4 and Yacht Express offering both premium float-on / float-off and lift-on / lift-off yacht transportation services, and the company has long operated independently from Dockwise with little overlap.

“Dockwise is now focused on the Oil & Gas Industry as a dedicated provider of transportation and installation services,” said Andre Goedee, Chief Executive of Dockwise Ltd. “Today’s announcement will allow management within the business to focus exclusively on this task and to reallocate capital to supporting the development of our world-leading business.”

New York-based Coby Enterprises is a marine solutions, transportation and logistics company providing services in domestic and international markets.

“We are excited to get involved in this dynamic and interesting niche in marine transportation,” said Coby CEO, Steven Byle. “DYT clients can look forward to uninterrupted service in the short term, and improved and expanded services as we go forward. The DYT team and vessels crews will stay in place, and there will be no change in routes or schedules. Moving toward the future, however, our plans include an immediate program for renewal and upgrade of the yacht carrier fleet. And we further intend to add new routes and services for our clients in the years to come.”

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