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04 December 2021 The on-line newspaper devoted to the world of transports 17:57 GMT+1

November 15, 2021

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Keppel and Boskalis sell towing businesses port to the Mediterranean Tugs

Transaction worth approximately 98 million US dollars

Singaporean Keppel Offshore & Marine and Dutch Royal Boskalis Westminster have signed an agreement to sell their port towing activities, carried out through joints Ventures Keppel Smit Towage and Maju Maritime 51% and 49% owned from the two companies, to the Italian Rimorchiatori Mediterranei (group Tugs Assembled) for a total of 133 million dollars of Singapore about (98 million US dollars). It is expected that the transaction, which is subject to approval by the authorities of Singapore supervision, will be completed in the first semester of next year.

Keppel Smit Towage operates a fleet of 58 tugs in Singapore and, through Maju Maritime, Malaysia. The fleet of the Gruppo Rimorchiatori Riuniti consists of over 100 units Naval.

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