Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

SAAM expands in Brazil acquiring 17 tugs from Starnav

Photo: SAAM SAAM-TUGS (002).jpg
SAAM's Towage Division is buying 17 tugs operating in Brazil from Starnav, plus four newbuilds under construction, for $198m.

SAAM CEO Macario Valdés said the deal was one of the largest transactions in SAAM’s history.

"The transaction was valued at $150m for the 17 active tugs, all state-of-the-art, flexible, high-capacity vessels. Another $48m will be disbursed for four tugs under construction," he said.

SAAM Towage Brazil will take over the debt for the operational tugs and those under construction, which will be deducted from the price paid to Starnav, once regulators agree on the deal, SAAM said.

"Once the purchase has been completed, SAAM Towage Brazil can upgrade part of its current fleet and will boast one of the most competitive, most modern fleets in that country."

SAAM has recently agreed to acquire the towage businesses operated by Ian Taylor in Peru and Standard Towing and Davies Tugboats in Canada.

SAAM Towage provides services at over 80 ports in the Americas, completing more than 110,000 maneuvers for 37,000 vessels each year.

 

Hide comments
account-default-image

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish
TMSRPan21-22 Category Promo 600_600-resize
Read Now

The 21st Edition of Panama Maritime Review

"We will invest in digital transformation, exploring innovative ways in which we can maxinimise the Canal's capacity to provide value guarentee quality of service to our customers."

Ricaurte Vásquez Morales, Panama Canal Administrator

Read Panama Maritime Review 2021/22 to find out more.

TMSRPan21-22 Category Promo 600_600-resize