Archive of posts tagged maritime

Dubai-based maritime service provider P&O Maritime has taken a majority stake in leading Spanish offshore support vessel provider Remolcadores de Puerto y Altura (Repasa). A subsidiary of the DP World terminal operating group, P&O Maritime said that, following the takeover, it would be turning the Tarragona-based operator into a joint venture company under its own brand. Family owned Repasa has a fleet of 12 tugs, comprising anchor-handling and azimuth stern drive vessels, and was recently awarded a long-term contract to provide LNG tanker support operations at the Punta Europa Terminal in Equatorial Guinea. P & O Maritime said that the takeover would enable it to expand its global presence to the Spanish and West African markets and enhance its capabilities in the LNG offshore sector. Managing director Rado Antalovic said that the group had identified the LNG sector as a core business capable of driving its future expansion. “Independent studies indicate the LNG market is set to double in size worldwide by 2020 and we are confident that we can deliver strong, long-term sustainable growth,” he said. Repasa managing director Inigo Garcia said that the transaction represented a tremendous growth opportunity for 1980-founded Repasa, which already had strong positions in the Mediterranean, North Sea and West Africa.