A Maersk Group subsidiary has expanded again in Europe through an acquisition that increases its position in a competitive market
Svitzer has acquired Port Towage Amsterdam (PTA) in the Netherlands by buying out a key joint venture partner.
The Maersk Group subsidiary has agreed to purchase Iskes Towage and Salvage’s share of the PTA joint venture, which was formed in 2014, to own 100% of that venture.
The acquisition is expected to be completed in January 2020, when Svitzer will take over control of the PTA fleet and welcome its employees.
Svitzer will acquire more than seven Iskes tugs and manage 30 employees, including Iskes crew through this deal.
This acquisition marks the next step in the Svitzer Europe’s 2025 strategy, which will see the organisation bolster its marine services offering and improve efficient and innovative towage operations within a highly competitive harbour towage market.
Svitzer Europe managing director Kasper Nilaus said this acquisition was also part of Svitzer’s commitment to “improving and strengthening our service offering, particularly for our customers in the busy ports of Amsterdam and Ijmuiden”.
He does not anticipate any disruption to towage services during and following this corporate deal because the “infrastructure solution spanning vessels, crew and shoreside staff is already in place in Amsterdam”.
Mr Nilaus said this deal adds another seven tugs to Svitzer’s fleet of five tugs already operating in PTA. “We look forward to continuing the same flawless service delivered by PTA over the last six years,” he said.
PTA’s fleet in Amsterdam and IJmuiden operates from the Inner Pierheads throughout the North Sea Canal area, which is one of Europe’s prime logistic hubs and industrial areas.
Svitzer managing director for the continental Europe cluster Fred Jeeninga will head the new operations in Amsterdam.
Svitzer said this acquisition resolves concerns raised by the Authority Consumers & Markets (ACM) in the Netherlands regarding the full-functional nature of PTA.
“ACM did not establish the existence of any infringement,” Svitzer said. Svitzer worked closely and co-operatively with the ACM to address its concerns. “Svitzer’s acquisition of PTA is consistent with the ACM’s guidance,” said Svitzer in a statement.
PTA total fleet
2017-built Iskes’ Phoenix
2016-built Iskes’ Telstar
2016-built Svitzer Tempest
2016-built Svitzer Typhoon
2016-built Svitzer Titan
2014-built Svitzer Amstel
2008-built Iskes’ Triton
2004-built Svitzer Muiden
2003-built Iskes’ Thetis
1993-rebuilt Iskes’ Pollux
1978-built Iskes’ Saturnus
1976-built Iskes’ Arion