SAAM Towage Enters El Salvador

SAAM Towage is entering El Salvador to provide services for the Energía del Pacífico (EDP) project at the Port of Acajutla.

The long-term agreement with EDP calls for allocating three tugs, two of which are new, to power plant operations. The 378MW plant will be powered by LNG and includes a floating storage and regasification platform.

The initiative will supply 30 percent of El Salvador’s energy demand.

The project will begin to inject energy into the grid by the end of 2021, but the tugs will commence operation in May 2021. The vessels are azimuth tugs, 32 meters in length, specially designed to meet the requirements of offshore operations and escort vessels.

SAAM Towage, with operations in Brazil, Canada, Chile, Costa Rica, Ecuador, Guatemala, Mexico, Panama and Uruguay, operates at more than 60 ports in the Americas, servicing over 25,000 ships a year. It provides berthing and de-berthing services for ships; assistance, salvage and towage for barges and civil construction projects; specialized services for ships at off-shore terminals and anchoring oil and gas platforms.

For the nine months ended in September, the company reported net income of $44 million, up 26 percent from the same period last year.