Eleven Companies Seek to Buy Tug Malta Share

Tuesday, October 17, 2006
According to Di-ve news, Malta’s Ministry for Investment, Industry and Information Technology (MITI) announced that the process for the sale of the Government 73.72% shareholding in Tug Malta Limited got underway as eleven companies in the towage and salvage operations signed a confidentiality agreement with the Privatization Unit and collected the Request for Proposals (RFP) document which outlines what is expected in the detailed bids that these companies should submit for the acquisition of the Government's share. Tug Malta services have recently been reformed and regulated by newly revised legislation.

The company was nationalized out of the private companies that used to run the business prior to 1980. Up to the late eighties, the Grand Harbor was the only shipping harbor in use and as such the company had all its tug fleet stationed there. However, in 1989, with the development of the Malta Freeport, the company had to invest in additional tugs in order to be able to offer an efficient service to tug users in the southern port. Since 2003, Tug Malta underwent a restructuring process. In 2005, the tariffs were revised though they remained amongst the most competitive in the region. In 2006, Tug Malta took delivery of two new tug boats.

Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Thuraya Debuts Most Advanced Satellite Phone

Thuraya Telecommunications Company today launched the industry's most advanced satellite phone, the Thuraya XT-PRO. Targeted at professional users across a range

Research Award to Honor Outgoing ABB Chairman Gruenberg

ABB, the leading power and automation technology group, has created an international research award to honor Hubertus von Gruenberg, who is stepping down after

DNV GL's Walk to Work Guidelines for Offshore Personnel

Offshore facility operators can now consider an alternative and more cost-effective means to transfer personnel to and from their facilities, which is safe, efficient and regulatory compliant.

Technology

Thuraya Debuts Most Advanced Satellite Phone

Thuraya Telecommunications Company today launched the industry's most advanced satellite phone, the Thuraya XT-PRO. Targeted at professional users across a range

Research Award to Honor Outgoing ABB Chairman Gruenberg

ABB, the leading power and automation technology group, has created an international research award to honor Hubertus von Gruenberg, who is stepping down after

DNV GL's Walk to Work Guidelines for Offshore Personnel

Offshore facility operators can now consider an alternative and more cost-effective means to transfer personnel to and from their facilities, which is safe, efficient and regulatory compliant.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1624 sec (6 req/sec)