ACL Shipbrokers Ltd managing director Alec Laing forecasts an exciting market ahead for tug owners this decade, as demand increases on several fronts due to investment in ports, shipping fleets and the energy transition.

He highlighted future opportunities for owners, designers and shipyards during an interview at Riviera’s 27th ITS Convention, held 22 May in Dubai, UAE, after his presentation covering aspects of the global tug and towage sector.

Mr Laing expects more consolidation in the sector, as the industry remains fragmented with many regional tug owners and few with worldwide operations.

He anticipates owners will continue to have difficulties sourcing secondhand tugs for sale, as competitors are increasingly looking at retaining assets and repowering them for the next decade of growth.

These conclusions came following lengthy research by ACL Shipbrokers through interviews with tug owners, operators, designers and builders.

From this research, ACL Shipbrokers considered the growth areas in the towage sector, including investment in green tugs and supporting LNG export and import terminals, while he forecasts the secondhand tug market will remain tight for several years.