KOTUG Buys Teekay’s Stake in Australian Towage JV
KOTUG Australia and Teekay Shipping Australia Pty Ltd. have reached a deal to reshape KT Maritime Services Australia Pty Ltd. (KTM) from a 50/50 joint venture to a full subsidiary of the KOTUG group. KTM was incorporated in 2012 to serve the Australian towage market. Now, after several years of working with KOTUG to establish this business, Teekay will exit KTM to focus on its Australian ship management, crewing and consultancy businesses. The deal received unanimous approval from the boards of both parent companies and was executed in the first week of April 2018.
Steel Cut on First of Three ISVs for KT Maritime
A steel cutting ceremony held last week at the Singapore shipyard of partner company, ASL Shipyard Pte Ltd. marked the start of construction for the first of three infield support vessels (ISVs) being constructed by Perth-based KT Maritime Services Australia Pty Ltd to support Shell’s Prelude FLNG project near Broome. KT Maritime Services Australia Director, Mark Thomas, said this major contract for the design, construction and operation of the three 42-meter, 100-metric-tonne bollard-pull ISVs at the Prelude site 475km north-north east of Broome was a major milestone for the company.
KT Vessels to Support Shell’s Prelude FLNG
Shell Australia has awarded a major contract for the design, construction and operation of three Infield Support Vessels (ISVs), which will create approximately 80 local jobs and support its Prelude FLNG Project, located 475km north-north east of Broome, in Western Australia. Perth-based KT Maritime Services Australia Pty Ltd, a joint venture partnership with KOTUG International B.V and Teekay Shipping Australia Pty Ltd, will supply three 42-meter, 100-metric-ton bollard-pull vessels to assist in product offloading during the operations phase of the project.
Teekay, KOTUG JV In Australian Towage Market
Teekay Shipping Australia Pty Ltd. (Teekay) and KOTUG International B.V. The Netherlands (KOTUG) today announced the establishment of a new Joint Venture (JV) company, called KT Maritime Services Australia Pty Ltd, to pursue new business opportunities in the Australian towage market. “We believe there are new opportunities for trusted and experienced companies like Teekay and KOTUG to provide superior towage services at existing and greenfield terminal developments,” commented Ard-Jan Kooren, CEO of KOTUG. “The JV between Teekay and KOTUG will bring together complementary skills from each partner. At KOTUG, we have many years of practical and technical experience in the towage field, including the deployment of our highly maneuverable RotorTug technology.
