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Rising towage demand drives SAAM to record earnings
One of Latin Americas largest tug owners has increased earnings in Q3 2025 due to fleet growth and a high demand for harbour towage
SAAM Group has extended its tugboat fleet, introduced new green technology and reported strong towage demand in Q3 2025.
The Chile-headquartered owner has welcomed three newbuild tugs into its Latin American fleet, including one with batteries for zero-emissions towage. These additions and a high demand for harbour towage in Latin America and Canada helped SAAM to report record earnings in Q3 2025 and a steep year-on-year rise in revenues and income.
SAAM Petrel started operations in the Port of Arica in Chile and SAAM Charrán is working at the Port of Callao in Peru. Both vessels are diesel fuelled, but SAAM Petrel has an aftertreatment unit to minimise NOx from engine exhaust and to comply with IMO Tier III emissions standards.
Battery-electric tugboat Trapananda started operating in Puerto Chacabuco to support Chilean energy group Enap’s terminal operations after it was built by Sanmar Shipyards to Robert Allan’s ElectRA 2500SX design in Turkey.
"We had record earnings [in Q3 2025], thanks to increased activity and a better mix of services, combined with greater operational efficiencies in our two business areas: towage and air logistics,” said SAAM chief executive Macario Valdés.
“We have taken important steps to consolidate our operational capabilities with high service quality, respect for the environment and safety."
Revenues and earnings are expected to continue to grow as SAAM is acquiring the remaining 30% of Intertug, which operates in Colombia and Mexico, giving the owner 100% control of the entity.
In Q3 2025, SAAM’s earnings before interest, tax, depreciation and amortisation (EBITDA) was US$58M, up 23% from the same period in 2024, while its revenue rose by 12% year-on-year to US$161M and profits jumped 97% to US$24M.
In August, SAAM Towage also reported a monthly record for harbour manoeuvres with more than 13,500 completed in one month.
SAAM reported net income US$64M for the first nine months of 2025, up 48% on the same period last year, while EBITDA increased 15% to US$158M and revenue rose 12% to US$161M.
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