Boskallis, SAAM, Sign Joint Towage MoU

Press Release
Thursday, April 11, 2013

Royal Boskalis Westminster N.V. (Boskalis) signs a Memorandum of Understanding (MoU) with Sudamericana Agencias Aereas y Maritimas S.A. (SAAM) for joint harbour towage operations.

The partnership would involve two joint ventures and is between SMIT, a wholly owned subsidiary of Boskalis, and SAAM.

The geographic scope of the first joint venture covers the Brazilian towage market. Both companies are currently active in Brazil and Boskalis with SMIT will have a 51% majority share in this joint venture. The combination with a total of 41 tug boats will form an important  player in the growing market of Brazil.

The second joint venture in which SAAM will hold a 51% majority stake relates to the towage activities in Panama and Canada (SMIT) and Mexico (SAAM). The combination will operate a total number of 55 tugboats.

The joint operation between SMIT and SAAM will create a leading provider of towage services in Central and South America. Besides operational synergies, the joint operations will also strengthen the market position of the combined companies.

The total value of the SMIT and SAAM assets respectively that will be contributed to the combined joint ventures is comparable. The implementation of the MoU is subject to certain customary conditions including a due diligence process and approval from regulatory agencies in the respective countries involved.

 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Great Lakes Inks M.E., N.C. Coastal Protection Project Deals

Great Lakes Announces $55 Million in Subcontract Work in the Middle East and Award of $38 Million for a Domestic Coastal Protection Project Great Lakes Dredge

Olympic Subsea Vessel Bags Contract

Olympic Shipping has secured a contract for Olympic Delta, an inspection, maintenance and repair (IMR) vessel, with an international client  to work on a renewable energy project.

Asia Tankers-VLCCs Rates Ease as Tanker Jams Fade

Port congestion eases at Basra and Chinese ports; tanker demand set to expand on lower oil prices. Freight rates for very large crude carriers (VLCCs), hurt by slower-than-usual release of cargo,

Workboats

Mercury Marine Expands Manufacturing Capacity

Mercury Marine is adding a 53,000 square foot manufacturing capacity expansion to its global headquarters in Fond du Lac, Wisc. The expansion will consist of 45,

Englishman: 11th Humber Tug Bears the Name

Humber tugboat operator SMS Towage has drawn on an old name for the latest addition to its fleet. The new Englishman is the 11th Humber tug to bear the title, in

Ulstein Verft's First Wind Service Vessel Launched

Shipbuilder Ulstein Verft has launched its first vessel within the renewable energy segment, and also the first with the newly-developed X-STERN hull line design.

Ports

Blacklisted Tanker Returns to Libya's Zawiya Port

A tanker that Libya's rival eastern government had been using to try to export oil in defiance of the Western-backed administration in Tripoli returned to the country on Saturday,

Lerwick Harbor sees Seasonal Boost

The opening of the offshore season in northern waters has seen specialist oil industry vessels return to Lerwick Harbor during April to support subsea development projects.

Cory Brothers Opens in Amsterdam Port

Cory Brothers Shipping Agency is delighted to announce the opening of Cory Brothers (The Netherlands) BV, in the port of Amsterdam, servicing the ARA range. The

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Pod Propulsion Port Authority Salvage Ship Electronics Ship Simulators 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: 0.0598 sec (17 req/sec)