Latest news from Heavy Lift & Project Forwarding International Magazine

Heavy Lift Across the World

Boskalis sells SAAM SMIT Towage stake

Royal Boskalis Westminster has sold its stake in the SAAM SMIT Towage joint venture.

The joint venture between Boskalis and SAAM was formed in 2014; at the time it provided towage services in Brazilian, Panamanian, Mexican and Canadian markets.

Boskalis expects to receive USD201 million in cash from SAAM for its equity stake in the joint venture. The agreement states that the total enterprise value of SAAM SMIT Towage is USD560 million. 

According to Boskalis, the company decided that an outright sale of its share to SAAM would be most beneficial for both parties.

Subject to the approval from regulatory agencies in the respective countries involved, the transaction is expected to close in the second quarter of 2019. 

“The partnership with Boskalis has been very productive. In just over four years, we have grown the business in Canada and improved our position in Brazil. Today we want to take another step forward. Since the towage area is at the core of our business, SAAM can play an important role in consolidating and growing this industry,” said SAAM’s ceo, Macario Valdés.

The venture operates a fleet of 106 tugs across 30 ports.

Boskalis said that it expects to report an impairment charge in its Harbor Towage joint ventures of approximately EUR200 million (USD225 million).

www.boskalis.com 

 

 

www.saam.com

Heavy Lift | News

ECL adds Hull to service thumbnail image

ECL adds Hull to service

February 11 - Europe Caribbean Line (ECL) made its first call at the port of Hull this month, handling more than 300 tonnes of heavy vehicles and industrial components destined for Guyana, Suriname and Trinidad.
Views: 644
Entries open for the Heavy Lift Awards thumbnail image

Entries open for the Heavy Lift Awards

February 1 - Entries for the inaugural Heavy Lift Awards are open. Now is the time to submit your entries for a chance to gain recognition for your complex logistics, transport and engineering projects around the world.
Views: 1809
Volga-Dnepr supports OneWeb satellite project thumbnail image

Volga-Dnepr supports OneWeb satellite project

January 31 - Volga-Dnepr Airlines has transported six satellites, weighing 30 tonnes in total, from Toulouse, France to Cayenne in French Guiana for the OneWeb constellation project.
Views: 1722
CEE members on the move thumbnail image

CEE members on the move

January 22 - SAL Heavy Lift has delivered a range of heavy and oversized cargoes, including a 550-ton (499-tonne) reactor, to Houston, USA on its heavy lift vessel Anne-Sofie. 
Views: 2177

Heavy Lift Across The World

Discover heavy lift and project logistics industry news from around the world by region.