Boskalis completes sale of harbour towage business units

Boskalis completes sale of harbour towage business units

Photo: Keppel Smit Towage

Boskalis and its co-shareholder KS Investments have completed the sale of their equity stakes in their harbour towage activities in Singapore and Malaysia to Rimorchiatori Mediterranei, a company of the Rimorchiatori Riuniti Group of Italy.

KST was established in 1991 as a joint venture between Keppel and SMIT, a wholly-owned subsidiary of Boskalis. Over the past thirty years, KST and Maju Maritime has developed into one of the largest providers of harbour towage services in Southeast Asia, with a large fleet of tugs in Singapore and through its joint venture in Malaysia.

The sale of KST/Maju follows the decision taken by Boskalis in 2019 to divest its harbour towage activities.

The group divested its stakes in Saam Smit Towage and Kotug Smit Towage in 2019.

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