Smit Lamnalco Expands Australian Operations Through Major Acquisition

pb plenty tugboat
Image: Boskalis

Royal Boskalis Westminster N.V. announced today that its subsidiary Smit Lamnalco will be expanding its presence in Australia through the acquisition of PB Towage from dry bulk shipper Pacific Basin Shipping Ltd.

PB Towage is Australia’s second-largest tug operator and as a result of this acquisition, Smit Lamnalco will acquire 17 harbor tugs and one barge bringing its total fleet in Australia to 29 vessels in 8 different ports.

Services include harbor towage, terminal and FPSO-related services.

Mats Berglund, CEO of Pacific Basin shipping notes shedding the PB Towage assets will allow his company to “enhance our focus on our cornerstone dry bulk business.”