Kotug grows its offshore capabilities

The intended acquisition of Seaways marks the largest in Kotug’s history and is part of its strategy to expand its business in assisting worldwide floating facilities such as FSO, FPSO, FLNG, FSRU and SPM terminals. 

“The acquisition of the renowned Seaways will mark an important milestone for Kotug. It fits our strategy to expand our (offshore) operations worldwide to meet the increasing demand for offshore support vessels. Over the last years, we have already heavily invested in offshore support vessels and people,” said Ard-Jan Kooren, president and CEO of Kotug International.

Growing sector

This is a strategic move for Kotug because the integration of the services and assets of the two leading companies should bring compelling synergy opportunities, leading to more efficient operations and enhancing value creation for customers. It also strengthens the company’s presence in West Africa and paves the way to enter other emerging markets.

Seaways owns and operates a fleet that comprises of DPS-2 capability AHT’s, fast crew suppliers and cargo barges and it also provides terminal management services.

Headquartered in Dubai, the family-owned company has a primary focus on West Africa. The acquisition will enable Kotug to pursue its mission to expand and provide sustainable towage and related services to the maritime industry in this area and more.

Captain Ashish Nijhawan, managing director of Seaways International, said: “I am proud that the Seaways family will become part of the Kotug global family. Kotug is an ideal fit for our people and our customers. I feel confident that this acquisition enhances Seaways, her dedicated onshore/offshore staff and for her to grow into Kotug’s (new) business areas globally.”

The acquisition is expected to be completed in the second half of 2022 – both companies will now work on customary governmental and other approvals, with the aim of completing the transaction in July 2022.