Tugz International LLC, an affiliate of The Great Lakes Group, , entered into a Purchase Agreement for a new HandySize 2,800 hp tug with Red Cape Marine Corporation, a Puerto Rico based company. The tug is a new class of tugboats being constructed in The Great Lakes Towing Company’s new Great Lakes Shipyard facility in Cleveland, Ohio. The tug departed the yard on October 23, 2010 bound for St. Croix, U.S. Virgin Islands. The tug will be used in the Caribbean in the intra-island movement of a 30,000 bbl oil barge. The tug purchase price is confidential. A new more powerful HandySize 3,200 hp tug is now under construction at the Great Lakes Shipyard facility, Cleveland, Ohio, for delivery in April, 2011.
