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This is the fifth of a five-case series (IMD-5-0691 to IMD-5-0695). This case takes place in September 2005. The case focuses on the role of John Nielsen, recently appointed to the board of Dockwise, the global leader in the semi-submersible heavy lift transportation business. After the acquisition of the Norwegian competitor Offshore Heavy Transport (see (D) case), Dockwise is looking at changed circumstances given the heavy turmoil in the market for oil (highest prices reached more than US$60 per barrel) and the aftermath of hurricanes Katrina and Wilma. Another new entrant has announced the intention of building new semi-submersible heavy lift ships through conversion of older tonnage, and rejuvenation of the tug-barge combination through a new generation of ocean-going tugs. The case puts the reader in the role of John Nielsen who must advise Dockwise given the new and changed circumstances.