Milner. That's right, all big deepsea semisubmersibles cannot be moved by lifting but they move with own engines and tugs (but it is slow). Mostly jackup-rigs and shallow water semis can be moved by heavylifting, and they are the majority of drilling equipments.
Offshore rigs are not the only drilling/oil service equipment that are needed to move over the seas with heavylift vessels, also onshore rigs often are sold overseas, not to mention cranes, mining equipments etc. As DOCK said in their 2008 forecast, they are very confident with even a longer term outlook in their sector.
The new semis Seadrill has ordered are these deepsea heavy class semis, and cannot be moved by Dockwise.
Dockwise is a merger between Frontline's spinoff Sealift and the Dutch Dockwise. FRO sold its shares of Dockwise, and distributed the money as a 4Q dividend to its shareholders - like it has been done before, sometimes as shares, sometimes as money. FRO announced this selling already when the merger was announced last summer.
That does not mean that JF is out of Dockwise: he has chosen the management of Dockwise - very professionals of the sector -, and most probably owns its shares through his investment funds and holdings.
Or did you find information that JF himself has sold shares of DOCK?
I am confident about DOCK. The sector they are operating in is not so widely known (when you look at the price behaviour since IPO!), but after a couple of profitable quarterly announcements I think it will by and by become better known among investors.
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