Singapore: Rimorchiatori Mediterranei acquires two local harbour towage companies

The Maritime and Port Authority of Singapore (MPA) has approved the acquisition by the Italian company Rimorchiatori Mediterranei (RMED) of Keppel Smit Towage Private Limited (KST) and MAJU. Upon closing the deal, which is expected to take place by summer, Rimorchiatori Mediterranei - a subsidiary of Rimorchiatori Riuniti Group and owned by DWS of the Deutsche Bank group, which is responsible for all harbour towage activities in Italy - will become the third harbour towage operator globally, with a fleet of over 160 tugs operating in Europe, Asia and South America, and over 1,400 employees.