Heavy-lift carriers Dockwise, Sealift merging

Heavy-lift carriers Dockwise, Sealift merging Heavy-lift shipping companies Dockwise and Sealift have announced they will merge.
   The companies said that by combining their fleets they “will be able to provide an enhanced service to customers.”
   The deal has been approved by 3i, the largest shareholder in Dockwise, and Frontline, the largest shareholder in Sealift.
   Frontline, headed by tanker magnate John Fredriksen, formed Sealift last year to manage and operate six large Suezmax tankers, which are due to be converted into semi-submersible heavy transportation vessels.
   The ships will now be integrated into the existing Dockwise fleet.
   The first of Sealift’s 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.
   Andr' Goedee, chief executive officer of Dockwise, said, “the six Sealift vessels will reinforce our core business and allow us to accelerate our focus on new markets, such as the installation of oil platforms and the management of large and complex logistics projects.”
   Dockwise is headquartered in Breda, the Netherlands, and operates a fleet of 15 semi-submersible heavy transport vessels, including some of the largest in the world. It employs about 800 people worldwide. Its U.S. offices are in Houston.