Dockwise Yacht Transport (DYT), part of Dockwise Ltd., Hamilton, Bermuda, is to merge with Yacht Path International Inc., Florida, to create a new force in premium yacht transport.
The combination of Yacht Path with DYT shall create an enterprise capable of transporting yachts of any size to any destination around the globe and broaden the scope of services to any client, from private owner and charter company to brokers and shipyards. Yacht Path will contribute its worldwide leadership in "Lift On/Lift Off" transportation: the chief mode of transport for small to medium yachts, aboard ocean-going cargo and container vessels. DYT will bring a corresponding global leadership in "Float On/Float Off" transportation for large yachts on its four submersible yacht carrier vessels. The combination of a reliable fixed schedule between cruising playgrounds and the ability to add extra voyages to new destinations with flexible tonnage will provide yacht owners with increased options for their travels.
The market for yacht transport is a clear niche market with a strong volume share of smaller yachts and the super yacht segment representing around 25-30%. Demand for yacht transportation services is mainly generated by yacht owners and charter companies seeking expansion of their cruising grounds to benefit from two seasons within one year (e.g. Mediterranean in the summer and Caribbean in the winter). The market is mainly driven by the increasing global fleet size, as a result of increasing wealth, allowing for a growing charter market and development of new yachting destinations around the world.