Svitzer, a towage and salvage company in AP Moller-Maersk (APM) Copenhagen group , has formed a new joint venture (JV) with Malaysian-based SVR Marine Services to secure a new market in Malaysia.
The JV will help to support Svitzer’s strategic objective of entering new markets and broadening its portfolio, it said. This allows Svitzer to approach customers and participate in tenders within Malaysia, and provide agency services for harbour and terminal towage using its tugs and equipment.
Lise Demant, managing director of Svitzer Asia, thinks that the company will supply the Malaysian market with a new standard of towage and provide world class equipment.
“Two key priorities at Svitzer – safety and efficient operations – therefore provide for a valuable proposition to the customers in the Malaysian market,” said Demant.
Previously in May 2015, Svitzer acquired a controlling stake in Brazilian harbour towage operator Transmar Serviços Maritimos. According to the company’s corporate statement, the acquisition represents the first step to enter the Brazilian towage market and is part of the company’s strategic objective of growing into emerging markets.