It’s Friday Afternoon… Stop Thinking and Watch This Heavy Lift Video

Queue the cheesy music, we have 26 tugboats loaded on one ship... ...And that ship is the 24,500 DWT heavy lift semi-submersible, M/V Fjord. The Fjord is one of four heavy lift vessels in the Fairstar fleet and the company has another (the FORTE, pictured below) on the way in spite of a recent "hostile takeover" by Dockwise. … [Read more...]

Fairstar Confirms Construction of Third Newbuild Vessel

Fairstar Heavy Transport confirmed today that on 3 May 2011 Fairstar had entered into a Shipbuilding Contract with a face value of USD 110 million with China Shipbuilding Trading Company Limited (“CSTC”) and Guangzhou Shipyard International Company Limited (“GSI”) concerning the acquisition and building of a fifth vessel (MV Fathom), identical to the two … [Read more...]

Insubordinate Fairstar Board Members Are About to Get FIRED

The board members at Fairstar Heavy Transport had better start polishing up their resumes because Dockwise is about to kick them all out on to the street. Today, Dockwise announced that they had scheduled a hearing in Amsterdam court to request the "immediate suspension of the management of Fairstar Heavy Transport N.V., more in particular of the Chairmen of the Supervisory … [Read more...]

Dockwise Takes Another Bite out of Fairstar, Increases Shareholdings to 80.4%

Breda, the Netherlands, Dockwise announced today that, through its wholly-owned subsidiary Dockwise White Marlin B.V., Dockwise now controls 80.4% of the outstanding shares of Fairstar Heavy Transport N.V.  Over the weekend shares were bought from various shareholders including Dutch investment group Indofin and Parkland. Dockwise has agreed the purchase of 17,834,122 shares … [Read more...]