SAAM, a company providing port, logistics and towage services in the Americas, concluded the purchase of 21 tugboats from the Brazilian company Starnav, which includes 19 tugs currently in operation and two additional vessels in the final phase of construction, according to the company's release.
The new tugs are all state-of-the-art and high-capacity vessels. The agreed-upon value of the Starnav assets is US$ 198 million. The outstanding debt on the assets will be deducted from this amount at closing.
Once the new assets have been integrated, the company will have a fleet of 69 tugboats in 19 Brazilian ports.
SAAM Towage provides services at over 90 ports in the Americas, completing more than 140,000 maneuvers for 40,000 vessels each year.
SAAM is a multinational corporation providing services for international trade through its four divisions: Port Terminals, Towage, Logistics and Aerosan.
With more than 60 years in business, SAAM has operations in 14 countries in North, Central and South America, creating jobs for more than 8,500 employees.