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SAAM takes full control of Intertug with US$30.5M investment
Chilean tugboat owner further cements its position in Latin America’s towage services market
SAAM has invested US$30.5M to acquire the final 30% stake in Intertug that it did not already own to gain full control of its operations in Colombia and Mexico.
The Santiago, Chile-headquartered tugboat owner has strengthened its leadership in towage services in Latin America by acquiring 100% of Intertug.
This transaction is part of SAAM’s growth strategy through this decade, which started in 2021 when the Chilean group acquired 70% of Intertug to enter the Colombian market and complemented its existing presence in Mexico.
“By closing this deal, we are consolidating our leadership in the region,” said SAAM chief executive Hernán Gómez. “This is a key step in our growth strategy for 2030.”
SAAM announced the 30% stake transaction in October 2025, and it was finalised after meeting the stipulated deadlines and obtaining the necessary regulatory approvals.
“Our goal is to expand our geographic presence through an efficient, flexible and sustainable operating model that stands out for its excellence in an industry critical to global trade,” said Mr Gómez.
SAAM Towage operates one of the world’s largest towage networks, with a fleet of over 200 tugboats serving more than 90 ports across the Americas.
Each year, these vessels conduct more than 155,000 manoeuvres, supporting various types of ships, such as container ships, oil tankers, bulk carriers, roro vessels and gas carriers.
Its vessels also provide services for offshore exploration and energy production and at gas and oil terminals.
At Riviera’s 28th ITS Convention, in Gothenburg, Sweden, on 19 May, Mr Gómez said investment in tug fleets and towage services generated stable returns on investment and positive sentiment for investors.
“Almost like infrastructure, [towage services] can be sold to investors,” he said during a panel debate between top executives from major tug owners.
Mr Gómez said tug owners need to “sell their investment thesis to shareholders and investors,” before taking decisions on fleet renewal and expansion.
SAAM has long-term terminal and ports towage concessions and some of its tugs operate in the spot market in Latin America and Canada.
It is ready to mobilise tugs around the region to meet demand in ports and profitability expectations from investors.
“It an asset does not get returns, then it can move around to make profits” said Mr Gómez.
Riviera will host TUGTECHNOLOGY ‘27 in Rotterdam, the Netherlands, 19-20 May 2027. Use this link for more information and to register.
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