KOTUG International B.V. said Thursday that it closed a deal to acquire SEAWAYS INTERNATIONAL (Seaways), a company that provides offshore support vessels for its clients.
“The acquisition of Seaways brings together the assets, expertise and people of two leading companies that support the worldwide floating facility business such as FSO, FPSO, FLNG, FSRU and SPM Terminals,” KOTUG said.
It will now integrate Seaways into its work in the floating offshore market, subject to all customary regulatory approvals. This will see the inclusion of 340 workers to the KOTUG group of companies, President and Chief Executive Officer of KOTUG, Ard-Jan Kooren said.
As a result of the acquisition, Seaways founder and former owner, Captain Ashish Nijhawan will immediately step down as managing director.
Kooren said, “It is with great respect that we say goodbye to Captain Ashish Nijhawan, his sons and wife, whose accomplishments have been outstanding.”
KOTUG recognised Nijhawan for his leadership, building the formerly family-owned company from scratch – “Owning and operating an impressive fleet comprising DPS-2 capability AHT’s, Fast Crew Suppliers (Crew Boats for Passenger Transportation) and Cargo Barges, and also providing terminal management services.”
Nijhawan said he is proud of the company that was built, and that he has deep trust in a bright future for Seaways under the leadership of KOTUG.
KOTUG currently supports operations in Guyana’s Liza field. Exxon hired a second tug from KOTUG in August to support the Liza Phase Two project which came onstream in February.
The “SD Power”, which has been in use offshore Guyana since October 2021, is joining the 120 tonnes bollard pull strong “SD Honour” in the fleet of dedicated offshore terminal tugs supporting operations offshore Guyana.
The tugs will provide static tow, push-pull duties and general offshore support to very large crude carriers (VLCCs) taking offload cargo from the floating productions, storage and offloading vessels (FPSOs).
