Within the latest move toward consolidation in the overseas sector, Dutch offshore operator Kotug worldwide joined into an awareness to get Seaways International. The 100-plus-year-old Dutch business stated the proceed to find the Dubai-based company ended up being made to accelerate its development in all over the world offshore floating energy facilities and respond to appearing market possibilities. Following a prolonged downturn in the oil and gas sector, Kotug stated it expects development as groundbreaking offshore drifting projects emerge in reaction to rising power need.
Seaways has and operates a fleet that comprises of DPS-2 capability AHT’s, Fast Crew manufacturers, and cargo barges, and also provides terminal management solutions. Produced in 1995, the Dubai-headquarter business includes a main concentrate on the center East, western Africa, Asia, and Singapore. The company’s company focuses about the industry of FPSO/ FSO/ SBM/ Drill Rig help, sub-sea construction help, anchor handling, static/ocean towages, port/terminal control, and tug & barge combinations. The addition of Seaways’ operations will specially strengthen Kotug’s existence in western Africa.
“The acquisition for the Seaways will mark a vital milestone for Kotug. It fits our strategy to expand our (offshore) operations global to meet up the increasing interest in overseas assistance vessels,” said Ard-Jan Kooren, President & CEO of KOTUG. “The integration associated with solutions and assets for the two leading businesses provides compelling synergy possibilities, causing more efficient operations and improving significant value creation for the global customers.”
The intended acquisition of Seaways would be the largest in Kotug’s history the business noted and follows the last few years through which Kotug has significantly dedicated to international help vessels and individuals. Kotug’s strategy is always to expand its company in assisting international floating facilities such as FSO, FPSO, FLNG, FSRU, and SPM Terminals.
“Since its incorporation 27 years ago, Seaways has built it self right as a reputed overseas maritime business with a successful history and a knowledgeable and experienced group,” said Captain Ashish Nijhawan, Managing Director of Seaways International. “KOTUG is an perfect complement our people and our customers.”
The acquisition is anticipated become completed in to the second half of 2022. Both organizations will now concentrate on customary governmental and also other approvals, because of the aim of doing the deal in July 2022.
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The acquisition is expected to be completed in the second half of 2022. Both companies will now work on customary governmental and other approvals, with the aim of completing the transaction in July 2022.