Pacific Carriers acquires Semco

Semco Pte Ltd (formerly Semco Salvage and Marine) has been acquired by Pacific Carriers Limited from PSA Marine for an undisclosed amount. The acquisition adds more than 50 anchor handling and towing vessels, ocean-towing tugs, utility vessels and crane and deck barges to the PCL fleet. This will enable PCL to provide integrated support services to the offshore oil and gas industry according to Executive Director Gerald Seow. PCL is controlled by Malaysian tycoon Robert Kuok and operates bulk carriers, product tankers and container vessels apart from tugs and barges. It has 28 utility vessels and anchor handling and supply vessels on order to be delivered over the next three years. PSA Marine, which is part of container port operator PSA International, had purchased Semco from SembCorp Logistics in 2001 for $117M targeting expansion into ocean towage, salvage, emergency response and heavy lift. Semco has now veered towards providing offshore marine services, which a PSA corporate spokesperson has described as “non core.” PSA Marine, however, will continue to provide pilotage and harbour towage services.