New Asian tugboat giant in the making

Pacific Basin announces that the company has launched negotiations with PSA Marine Ltd. concerning a sale of the carrier's towage business, PB Sea-Tow.

Photo: Rederiforeningen

Hong Kong-based Pacific Basin Shipping Limited is currently in negotiations with PSA Marine Ltd. regarding a possible sale of the carrier's towage business, PB Sea-Tow, says Pacific Basin in a press release.

The potential sale of Pacific Basin's towage activities to Singapore-based PSA Marine Ltd. would create a new giant in the towing sector, in direct competition with Maersk's Svitzer and Dutch Boskalis.

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