Dockwise sells yacht transport company

BREDA, Netherlands – Dockwise Ltd., owner of Dockwise Yacht Transport, announced today that it has signed a letter of intent to sell the wholly-owned subsidiary to Coby Enterprises Corp. The transaction will be a cash deal and the figures will be announced following the close of the deal, which is conditional upon market customary conditions.

Dockwise Yacht Transport is operated independently from Dockwise, and the company said in a statement that there is no significant overlap in customers or synergy with the remaining Dockwise fleet. Following the transaction, Dockwise will focus solely on its core heavy marine transport, transport and installation, and logistical management activities.

“DYT played a significant role in the origins of Dockwise, being the product of the merger between Dock Express and Wijsmuller, but with the evolution of our business it is no longer a strategic asset,” said Dockwise Chief Executive Andre Goedee in a statement.

Coby Enterprises, the New York company set to purchase DYT, provides marine solutions, transportation and logistics in the domestic and international markets. “We are excited to get involved in this dynamic and interesting niche in marine transportation,” said Coby CEO Steven Byle in a statement.

He added, ”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.”
Source: BoatingIndustry

Posted on 11/07/2011 / 1 comments / Read More

New orders for Chinese shipbuilders sink

BEIJING, Nov. 1 (Xinhua) -- The Chinese shipbuilding industry suffered drastic declines in new orders in September this year, as the growth of the global ocean shipping market almost stalled amid economic slowdown, China's top economic planner said Tuesday.
New shipbuilding orders in September fell to 940,000 deadweight tonnes (DWT), the lowest monthly figure since June 2009, according to a report on the website of the National Development and Reform Commission (NDRC).
About 30 percent of China's 1,526 shipbuilding enterprises received no new orders in September, forcing some of the smaller and mid-sized ones to shut or stop production, said the NDRC.
As a result of shrinking orders and rising costs, 249 enterprises suffered losses in the first three quarters of 2011, 37.9 percent more than a year ago. Their total loses stood at 2.66 billion yuan (420 million U.S. dollars) at the end of August, according to the report.
For the first three quarters, new shipbuilding orders slumped 42.8 percent year-on-year to 29.02 million DWT, while incomplete orders dropped 13.8 percent to 168.86 million DWT.
Shipbuilding output totaled 51.01 million DWT from January to September, representing an increase of 18.3 percent from the previous year. The DWT of completed ships for exports stood at 43.05 million, or 84.4 percent of China's total output, according to the NDRC.
The China Association of the National Shipbuilding Industry (CANSI) projected the country's shipbuilding industry will continue to slow moderately in the fourth quarter, with a downbeat outlook for new orders and sharp declines in existing orders.
CANSI predicted more than 60 million DWT of ships will be completed this year.
Also, the China Newbuilding Price Index, which is based on calculations of shipbuilding companies' delivery, new orders and incomplete orders, continued to weaken, by 0.3 percent to 952 points during the reporting period between Oct. 15 and Oct. 30.
Source: Xinhua

Posted on 11/07/2011 / 0 comments / Read More