PSA Marine and CPT Come Alongside With 45% Acquisition Stake of Meyer’s Tugs in Panama

Through its wholly-owned subsidiary PSA Marine Americas (Pte) Ltd, PSA Marine (Pte) Ltd (PSA Marine) completed the acquisition of 45% stake in Meyer’s Tugs S.A. (MTSA) from Inversiones Maritimas CPT S.A., a wholly-owned subsidiary of CPT Empresas Maritimas S.A. (CPT) on 27 April 2023 in Panama.

As PSA Marine and CPT embark on a new chapter, MTSA will be rebranded to reflect their shared vision and values. Gabriel Forero, General Manager of MTSA, together with his key managers, will continue to lead the company and offer high-quality services to its customers.

PSA Marine Managing Director Peter Chew said: “CPT and PSA Marine share a passionate belief of growing the towage service offering in Panama. This new partnership in MTSA will bring together our networks, expertise, and capabilities in the towage business, thereby driving the best business outcome for our customers. We are proud of what the leadership team in MTSA has achieved. Together, we are stronger.”

“The new company marries the innovative, high-performance, and local expertise of CPT with PSA Marine’s high operational standards, firm background, and strong international branding in the maritime sector. We are eager to achieve more together and look forward to consolidating and developing our market position in the Panamanian business”, added Mr. Carlos Cornelius, CEO of CPT.

For more information, please click HERE for the press release.