Australia: Boskalis Completes Sale of SMIT Gladstone Towage Operation

Royal Boskalis Westminster N.V. has successfully completed the sale of its Australian harbor towage business to its strategic partner Smit Lamnalco. The sale had already been announced in August 2013 as part of a strategic realignment of the towage activities.

Boskalis received USD 55 million in cash for all the outstanding shares in Smit Marine Australia Pty Ltd, the legal entity holding the exclusive harbor towage license in the port of Gladstone, Australia with 6 tug boats included. The transaction was at book value and will not have a material impact on Boskalis earnings.

Shipping activity out of the Port of Gladstone is primarily commodity related with various LNG terminals currently under construction. The nature of these activities fits well within the Oil and Gas industry focus of Smit Lamnalco. These activities will furthermore complement Smit Lamnalco’s forthcoming LNG terminal activities in Papua New Guinea.

Smit Lamnalco is a strategic partnership in which Boskalis is 50% shareholder with the remaining 50% share held by The Rezayat Group of Saudi Arabia.

Press Release, October 15, 2013

Share this article

Follow Dredging Today

One thought on “Australia: Boskalis Completes Sale of SMIT Gladstone Towage Operation”

Comments are closed.

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

3rd International Congress Hydraulic Engineering Structures and Dredging

Russia’s leading maritime industry Media Group PortNews (www.portnews.ru) holds a traditional annual Congress “Hydraulic Engineering Structures and Dredging” in Moscow. 

The two-day Congress includes the 7th International Forum of Dredging Companies and the 3rd Technical Conference “Modern Solutions for Hydraulic Engineering”.

Infrastructure development is among the real sources of Russia’s economy growth. Construction of port facilities and new hydraulic engineering structures on the country’s inland waterways constitute an essential part of all infrastructure projects. It is important to take into account the best international practices to implement these projects effectively.

The program of the Congress will be devoted to the latest technologies for dredging and hydraulic engineering works. Speakers and delegates will refer to real projects to discuss specifics features of dredging works, as well as dedicated fleet and equipment involved.

To learn more about event, please, contact the organizing committee: snitko@portnews.ru

read more >

Jobs>

Dredging jobs in Abu Dhabi at NMDC

National Marine Dredging Company “NMDC” aims to be the largest dredging player in the Arab’s Gulf region...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of DredgingToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of DredgingToday.com, you'll reach countless professionals in the sector. For more information, click below....

apply