In the history of the GMAP M&O Newsletter the theme “towage” is now covered for the second time. Worldwide major changes are taking place, prompted by developments as well in the digital and sustainable field, as by the economic and market conditions in the various geographic markets. Major shifts are taking place of which the most striking is the withdrawal of one the global leaders from (part of) the tugboat world. Within these movements JBR is a beacon to many owners and operators and has consulted many companies on their strategic actions.
At JBR we see the market consolidate: due to the stringent market conditions major consolidations are taking place in Europe and in Latin America, resulting in a few “Major Towage Companies” deploying their fleet in several countries and acting in the major ports, while the rest, more or less substantial companies, act in the lesser ports. The next consolidation wave will take place in Asia, the new market.
On the other hand, several industrial companies do not rely on commercial towage operations and install their own tugfleet, state-of-the-art, specification according their special purpose and always available.
The shifts are made visible in an overview of selected towage companies. And of course you can read about the developments and transactions within this sector.