Dockwise has signed a letter of intent to sell its subsidiary Dockwise Yacht Transport (DYT) to Coby Enterprises.
DYT has long been operated independently from Dockwise and there was no significant overlap with the remaining Dockwise fleet. The proceeds of the cash deal will be disclosed upon completion of the transaction, which is expected to take place during the next quarter. Following the disposal of DYT, Dockwise will be focused solely on its core heavy marine transport (HMT), transport and installation (T&I) and logistical management activities.
DYT provides transport services for yachts and leisure craft between sailing regions around the globe. Its main market is the annual trans-Atlantic migration in the second and fourth quarters of the year, of luxury yachts from Florida and the Caribbean to the Mediterranean and back. The company owns three dedicated vessels – 'Super Servant 3', 'Super Servant 4' and 'Yacht Express' – and offers both float-on/float-off and lift-on/lift-off yacht transportation services.