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P&O Maritime buys Spanish marine services operator Reyser

P&O Maritime buys Spanish marine services operator Reyser
Dubai-headquartered P&O Maritime, a subsidiary of DP World, has acquired fellow marine services operator Reyser (Remolques y Servicios Maritimos) of Spain from Bergé y Cía for a sum said to be less than 5% of the group’s net asset value ($475m).

Reyser owns a fleet of 151 vessels and provides harbour towage, mooring, bunkering and other marine services to 10 ports in Spain under long-term contracts, as well as to international LNG terminals at Saint John, New Brunswick in Canada and Point Fortin in Trinidad and Tobago.

Breakdown of the Reyser fleet by type is 20 tugs, 53 mooring boats, 5 bunkering vessels and 73 ships conducting environmental work.

“We are delighted to make this acquisition which underlines the further development of the group’s maritime services business,” said DP World Group chairman and ceo Sultan Ahmed Bin Sulayem. “This is all part of our broader strategy to grow complementary sectors in the global supply chain such as industrial parks, freezones and logistics supported by new technologies adding value for all our stakeholders.”

The purchase will allow P&O Maritime to consolidate its market position in Spain and expand into new territories and markets, said the company’s md Rado Antolovic.

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