Wave of market consolidation rolls on

In Latin America, in October, SAAM Towage signed an agreement to purchase the remaining 30% of Intertug’s companies operating in Colombia and Mexico that SAAM did not already own. Santiago, Chile-headquartered SAAM is investing US$31M to take 100% ownership of Intertug and consolidate its position in Latin American towage.

In 2021, SAAM acquired 70% of these companies, bringing the company into the Colombian market and complementing its existing presence in Mexico. SAAM expects most of the deal will be completed in November; however, for one of the Mexican companies, closing is subject to regulatory approvals, which could require more time.

Intertug was established in 1993 and operates a fleet of 28 tugs with installed power ranging from 1,400 kW to 5,400 kW. SAAM Towage has a fleet of more than 200 tugboats operating at over 100 ports in the Americas, from Canada in North America to Chile in South America. According to Intertug, its vessels perform more than 150,000 manoeuvres annually, providing support to a wide range of vessels, including container ships, roro, bulk carriers, tankers and LNG carriers.

North America deals

Market consolidation in North America accelerated in Q3 2025, with ownership changing for both towboat and barge owners. Maritime Partners was active in that period, completing its acquisition of US coastal towage provider Centerline Logistics. 

This deal was completed on 28 August, bringing Centerline’s fleet of tugs, towboats and barges, and the company’s management, into the Maritime Partners’ family.   

Centerline operates along the US West and East Coasts, along the US Gulf Coast, and in Alaska, Hawaii and Puerto Rico, and its operations are now added to Maritime Partners’ growing portfolio of diversified marine assets.  

Centerline chief executive Matt Godden will continue to lead the company in that role and remains a minority investor in Centerline. “Centerline’s position as one of the nation’s largest operators of Jones Act-qualified liquid petroleum barges, its leadership team and track record of operations make this an ideal addition to our portfolio,” says Maritime Partners chief executive Bick Brooks.  

In another deal, Maritime Partners has acquired West Gulf Marine, which constructs tank barges used to transport black oil, petrochemicals and refined products along inland and intracoastal waterways for US operators including Kirby Corp, Canal Barge Co and Enterprise Product Partners.

Another provider of waterway services, New Orleans, Louisiana-headquartered Bisso Towboat, was acquired by Moran Towing. This added a fleet of 11 tugboats, including 10 azimuth stern drive, tractor tugboats to the Moran fleet, which operates in ports along the US Gulf and East Coasts. Bisso Towboat had invested in newbuilds in its fleet operating along the lower Mississippi River with the latest, Mr Brian, added at the end of 2024 following its construction by Main Iron Works in Houma, Louisiana.

In another deal, Baltimore-headquartered investment firm Redwood Holdings acquired New Orleans-based Canal Barge Co. This pairs Canal Barge with Kentucky-headquartered Marquette Transportation Co, which Redwood acquired in May 2024. Redwood intends to operate both companies under one team, combining their complementary strengths in the marine transport sector.

Miami, Florida-based Tallvine Partners acquired Hillside, New Jersey-headquartered Donjon Marine to expand its marine, shipbuilding and salvage services. This marks the creation of a first investment platform in North American marine infrastructure for Tallvine.

In December 2025, Hines Furlong Line (HFL) announced it would acquire the river division of Campbell Transportation in Q1 2026 to expand its fleet and extend its operations along US inland waterways. 

After the transaction, HFL would own and/or manage 64 inland towboats and 870 hopper and tank barges, and oversee two shipyards. 

Campbell said it would focus on its coastal towage operations by setting up its US Gulf division as a standalone company, based in Houston, Texas.

In Canada, Quebec’s provincial government provided a financial injection into Ocean Group as part of a wider management buyout. La Caisse is reinvesting and the provincial government are financing the towage and shipbuilding group, enabling its management to pursue a renewed growth strategy, led by president and chief executive Jacques Tanguay.

Mississauga, Ontario-Bird Construction is acquiring British Columbia-based Fraser River Pile & Dredge in an US$82M transaction to strengthen its position in marine construction in Canada.

In the shipbuilding sector, investment firm Bochi acquired tug builder Diversified Marine; Davie purchased Texas-based shipyards from Gulf Copper; and Seatrium is divesting its American shipyard to affiliated company of Karpowership in an all-cash transaction.

The 28th International Tug & Salvage Convention, Exhibition & Awards will be held in Gothenburg, Sweden, in association with Caterpillar, 19-21 May 2026. Use this link for more details of this industry event and the associated social and networking opportunities.