Bruce Barnard, Special Correspondent | Nov 08, 2011 11:57AM EST
Dockwise is selling its yacht transport business to New York-based Coby Enterprises Corp. to focus solely on its core heavy lift shipping operations in the oil and gas sectors.
The Netherlands-based company didn’t say how much it is receiving for the sale of Dockwise Yacht Transport, which is being financed by private equity and the company’s management. Dockwise expects to close on the deal in the first quarter of 2012.
DYT, a major transporter of yachts and leisure craft, has three specialized vessels to ship luxury yachts around the world. Its main market is the annual migration of yachts from Florida and the Caribbean to the Mediterranean in the second and fourth quarters of the year.
Coby Enterprises is a marine solutions, transportation and logistics company active in domestic and international markets.
Dockwise is due to take delivery of the world’s biggest heavy lift ship, a 110,000 metric tons capacity vessel costing $240 million, in the final quarter of 2012.
-- Contact Bruce Barnard at brucebarnard47@hotmail.com.
