Singapore’s PSA Marine has completed the acquisition of a 45% stake in Panama-based Meyer’s Tugs (MTSA) from Inversiones Maritimas CPT, a subsidiary of Chile’s CPT Empresas Maritimas.
MTSA was incorporated in 2015 and offers towage services between the Pacific and Atlantic coast in Panama. The company owns and operates a fleet of six harbour tugs with bollard pull strength ranges between 60 tonnes and 77 tonnes.
Subsequent to the completion of the acquisition, MTSA will be rebranded. Gabriel Forero, general manager of MTSA, together with key managers, will continue to run the company.
“CPT and PSA Marine share a passionate belief of growing the towage service offering in Panama. This new partnership in MTSA will bring together our networks, expertise, and capabilities in the towage business, thereby driving the best business outcome for our customers,” said Peter Chew, managing director of PSA Marine.
