Maritime Heavy Transportation Companies Dockwise and Sealift Announce Merger

Tuesday, May 01, 2007
Maritime companies Dockwise and Sealift announced a merger. By combining their fleet of vessels, the companies will be able to provide an enhanced service to customers. Following the merger, the Sealift vessels will be integrated into the existing Dockwise fleet and the company will trade under the Dockwise name. 3i, the largest shareholder in Dockwise, and Bermuda based Frontline, the largest shareholder in Sealift, have both approved the merger. Sealift, which is listed on the Oslo OTC market, was founded by Frontline to manage and operate six large Suezmax tankers, which are due to be converted into semi- submersible heavy transportation vessels. The first of these six vessels will be operational in May, following the completion of its conversion in China. Delivery of the bulk of the remaining vessels will follow later in 2007, with the final vessel to be delivered fourth quarter 2008.

Following the merger, the new entity will be listed on the Oslo OTC market. Both 3i and Frontline will continue as shareholders of the new company, with 3i retaining the largest shareholding in Dockwise. As a result of the merger, the complementary expertise of Sealift will be integrated into the Dockwise organisation.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Navios Partners Appoints Lampros Theodorou as Director

US-listed owner and operator of container and dry bulk vessels Navios Maritime Partners has appointed Lampros Theodorou to its Board of Directors.   “We are delighted Mr.

Fundraiser Held for USS Gerald R. Ford Crew

Blackmer, a company in positive displacement and centrifugal pump and reciprocating compressor technologies, has a relationship with the U.S. Military that dates

Meercat Workboats Scores a Hat-trick

The U.K.’s Meercat Workboats says it scored a hat-trick; the Hampshire-based boat builder announced it is moving premises, that Seawork was a huge success and that

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Offshore Oil Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0855 sec (12 req/sec)