United Yacht Transport, a Fort Lauderdale-based yacht transport company, is set to convert a Panamax size bulk vessel into a semi-submersible yacht transport vessel.

The vessel, which is scheduled for delivery in the second tax quarter of 2015, will provide scheduled semi-submersible yacht transportation services to the yacht transportation industry.

With a cargo capacity of over 40,000dwt, the vessel will be the world’s largest yacht transport vessel, claims the company.

The carrier will have dimensions of 229m x 46m, which will allow it to pass through the newly widened Panama Canal.

According to the company, certain market conditions in the dry-bulk shipping industry have resulted in a signficant reduction in the value of bulk vessels, creating an opportunity for the development of a low cost semi-submersible vessel.

United Yacht Transport chief operating officer Paul Haber said the company is committed to meeting the demand from their large-yacht clients.

"It is this commitment that has led to the decision for further investment in the industry. We believe this investment will ensure the large-yacht community a safe, reliable means of transportation," Haber added.

United Yacht provides yacht transportation services such as scheduled voyages, custom voyages, and liner services across North America, Caribbean, Central America, Mediterranean, Middle East and Asia.

The company also provides logistical solutions for special events such as sailing regattas, boat shows and Hollywood movie productions.