Considering the number of superyachts and “small” megayachts that travel to and from the USA, the Med, and other popular cruising grounds each year, it’s no wonder two powerhouse companies specializing in the transport of those yachts are joining forces.
Specifically, Dockwise Yacht Transport (DYT) has signed a letter of intent to merge with Yacht Path International, with the goal being to create a new company that can take a private yacht, a shipyard’s latest delivery, and/or a charter yacht essentially anywhere in the world and with more options for transport.
If you’re familiar with DYT, then you probably know that it pioneered the use of submersible carrier vessels dedicated to the transport of megayachts to 200 feet, a.k.a. “float on/float off” transportation. Yacht Path uses cranes to lift the boats on and off its carriers. While it has found particular success with boats to 80 feet, it can accommodate yachts to 250 metric tons and about 180 feet. According to Yacht Path, the 80-foot-plus field alone represents 25 to 30 percent of the worldwide yacht-transport market.
To date, DYT has carried more than 10,000 power and sail vessels to cruising grounds in the Med, the east and west coasts of North America, the South Pacific, and more regions, with 1,300 yachts transported last year alone. As for Yacht Path, it has carried about 600 yachts so far, half of that coming last year. While it serves many of the same regions as DYT, it also targets ones off the beaten path, like Honolulu, Ketchikan (Alaska), Phuket, Singapore, Southampton (England), and Mumbai.
After due diligence is concluded and all goes according to plan, DYT will purchase the full issued share capital of Yacht Path. The management of both companies is expected to take similar roles in the new company.
“The merger of DYT and Yacht Path is an exciting step in the evolution of a growing global niche market,” Andre Goedee, chief executive of DYT’s parent company, Dockwise, says. “The current recession, while temporarily subduing demand, has not reversed the long-term upward trends in yacht transportation between cruising destinations. The unified company will be ideally positioned once favorable conditions return and Dockwise will enjoy significantly increased marketshare. Furthermore, the complementary market segments that each of the parties brings to the merger will deliver strong marketing synergies.”
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