Global towage operator Svitzer has signed a 10-year agreement with Port Suez in Egypt, to deliver two vessels which will be part of a work agreement with the Suez Canal Authority.
Svitzer and Suez Canal Authority concluded an agreement for providing two new build 70T ASD tugs for supporting the operations in Port Said and Suez Canal.
Svitzer has been operating in Egypt since 2005 for Egyptian LNG in Idku, with a full Egyptian set-up and 7 vessels comprising of 4 ASD tugs, 2 Line boats, and 1 pilot boat.
Svitzer has a well-established presence in Egypt, which will allow for a smooth expansion into new businesses within the country, supporting the development and growth plans of Egypt in the regional and global context.
“This achievement is a significant step for Svitzer and we see it as a reflection of our global and local ambition to support growth in the region,” said Nicolai Friis, managing director, AMEA, Svitzer.
“We have a strong and long-standing relation with Egypt, and for the past years, we have invested continuously, as Egypt plays an important role in our expansion as towage operator in the region,” he added.
This new agreement with Suez Canal Authorities reflects Svitzer’s Staying Ahead and One Maersk strategies to strengthen the Global Ownership Advantage in a regional context, the company said.
The investment in two new-build tugs is expected to be executed immediately after signing the contract with SCA, as the commencement of the contract is within 3.5 months from signing.