Intertug merges to consolidate Colombian port and offshore operations

The corporate deal sees the merger of International Tug with Panamanian companies Panama Tugs, Atlantic & Pacific Supply Services and Intertug Investments Holding.

Following this merger, Intertug will operate a fleet of tugboats and offshore assets in Latin America and the Caribbean.

Corporate arrangements were concluded after approval from Colombia’s Delegation of Ports of the Superintendency of Transport (Supertransporte) in August.

The multi-company deal was needed to unify port services and operations in Colombia at a time when the Colombian State’s guaranteed legal security attracts more foreign investment to the country.

Superintendent of transportation Camilo Pabón Almanza said further foreign investment will “generate more jobs and greater development for maritime and port activity in the country.” He expects investment will include introducing new technology to optimising operations in Colombian ports.

“With authorisation of the merger of Intertug, in the midst of the Covid-19 pandemic, strengthening of the country’s maritime and port operations is being promoted,” said Mr Almanza.

“This multinational has positioned itself as a strategic link in activities to support public ports and specialised terminals, which will bring benefits for the port community in general.”

Intertug operates tug fleets of various ages, built from 2001 to 2015. They are used for harbour and ocean towing, ship mooring, escorting, pollution control and fire-fighting operations. It also operates offshore support vessels for rig and platform supply and oil recovery activities.

Supertransporte’s delegation of ports approved the merger through an administrative act on 18 August after analysing the request made in May.