ROTTERDAM, The Netherlands — KOTUG International B.V. has successfully closed on the intended acquisition of Seaways International. As a result, Seaways is now a 100% owned subsidiary of the KOTUG Group of Companies.
The acquisition of Seaways brings together the assets, expertise and people of two companies that support the worldwide floating facility business such as FSO, FPSO, FLNG, FSRU and SPM Terminals. With all customary, governmental and other required approvals, KOTUG will focus on the integration of Seaways and strengthening its presence in the floating offshore market.
The founder and former owner of the family-owned Seaways, Captain Ashish Nijhawan, will be stepping down from his role as managing director, effective immediately.
According to the KOTUG news release, "Under his leadership, the company has been built from scratch to become the thriving business it is today. 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."