SAAM 2025: a record year in revenue and results

SAAM had a record year for revenues and towage operations in Latin America in 2025 through investment in sustainable tugs and a subsidiary working in two countries.

The Santiago, Chile-headquartered tug owner recorded 9% annual growth in revenue from its towage operations US$526M and record net income of US$80.4M from all its activities in 2025.

SAAM’s total earnings before interest, taxes, depreciation and amortisation (EBITDA) reached US$217M in 2025, up 15% from 2024.

In the towage segment, SAAM increased profitability, achieving an EBITDA margin of 35.6%, and an EBITDA of US$187M, and its Aerosan air logistics business reported revenue of US$105M and a 16% increase in EBITDA.

In 2025, SAAM Towage consolidated regional leadership by acquiring the remaining 30% of Intertug that operates tugboats in Colombia and Mexico.

“2025 was a record year in revenue and results, thanks to a combination of resilient activity in our business segments and a better mix of services, coupled with the operational efficiencies we have achieved,” said SAAM new chief executive Hernan Gomez who succeeded Macario Valdes on 1 February 2026 after his departure for new challenges at Quinenco.

Fleet growth in 2025 included addition of the first battery-electric harbour tug in Latin America, Trapananda, to SAAM’s operations in Puerto Chacabuco, Chile.

“This move reaffirms the company’s commitment to technologies that reduce the logistics chain’s environmental footprint,” said Mr Gomez.

Between 2021 and 2025, SAAM doubled the size of its continuing operations following the sale of its port assets and established itself as a relevant player of scale in the logistics industry in the Americas, operating from Canada to Chile.