TUGS acquires 30% of Manila South Harbor tugboat operator
Harbor Star Shipping Services Inc. (TUGS) has gained foothold in Manila South Harbor after acquiring a 30 percent stake in High Energy Marine Services Inc. (HEMSI).
HEMSI is the dominant tugboat operator in the Manila South Harbor which is managed by Asian Terminals Inc. of businessman Eusebio Tanco. It also operates in Bataan.
With the acquisition, TUGS now has interest in the harbor assist operations in the country?s two largest and most active terminals, the other port being the Manila International Container Terminal (“MICT”) operated by ICTSI.
TUGS is the sole tug assist operator in MICT. Last year, both terminals handled a combined arrival of more than 4,000 foreign vessels.
The Manila South Harbor posted its highest recorded mid-year container volume this year.