Boskalis, CSAV Discuss Americas Tug Joint Venture

Boskalis, the Dutch dredging and marine services group, and Chilean ocean carrier CSAV are working to establish a joint towage operation in Central and South America.

The joint venture between Smit, Boskalis’ marine services arm, and Sudamericana Agencias Aereas y Maritimas , CSAV’s wholly-owned subsidiary, would operate a fleet of more than 170 vessels in 45 ports in nine countries.

The company would have annual revenues of more than $270 million “and besides operational synergies, the joint operation would also strengthen the market position of the two companies,” Boskalis said.

“Discussions are currently ongoing and the two companies endeavor to reach a formal agreement in the coming months, subject to certain customary conditions.”

-- Contact Bruce Barnard at brucebarnard47@hotmail.com.