Kotug said the acquisition was a move to expand its offerings assisting floating energy facilities including FSO, FPSO, FLNG, FSRU and SPM Terminals, a sector it expects will grow as energy demands rise.
The companies aim to complete the transaction in July 2022, subject to approvals.
Dubai-headquartered Seaways owns and operates Anchor Handling Tugs, crew boats, and cargo barges with a focus of operation on West Africa.
“The integration of the services and assets of the two leading companies will bring compelling synergy opportunities, leading to more efficient operations and enhancing significant value creation for our global customers. It strengthens our presence in West Africa and paves the way to enter other emerging markets,” said Kotug President and CEO, Ard-Jan Kooren.
Managing Director of Seaways International Captain Ashish Nijhawan, said: “KOTUG is an ideal fit for our people and our customers. I feel confident that this acquisition enhances Seaways, her dedicated onshore/offshore staff, and for her to grow into KOTUG’s (new) business areas globally.”
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