June 5 - Fairplay Towage and Bugsier have announced their intention to merge their respective business activities in order to expand and strengthen their presence in Germany and Europe.

Both parties have signed a letter of intent, with Fairplay planning to acquire Bugsier in the second half of this year. Bugsier will continue as a brand in the corporate group of Fairplay Towage.

Fairplay Towage, headquartered in Hamburg, has offices and tug stations in the Netherlands, Belgium, Poland and Germany. Germany's Bugsier Reederei operates along the northern European coast, serving the offshore oil and gas industry and the flourishing offshore wind energy market.

According to the Port of Hamburg, the market for harbour assistance in northwest Europe is extremely competitive, and for the development of an internationally established network, it is important to have the strong presence of Bugsier in the German market to complement Fairplay's presence in other European countries.

The consolidation of both fleets will result in a flexible shipping partner, while Bugsier will contribute new business areas to the Fairplay group, for example the ocean towage for oil and gas and offshore wind energy industries.