SMIT expands into Brazil

SMIT is taking another step in its strategy to expand its harbour towage activities by acquiring 50% of Rebocadores do Brasil S.A. (Rebras). Rebras already owns three 55 tonne bollard pull harbour tugs which are chartered out on bare boat basis. The company, to be renamed SMIT Rebocadores do Brasil S.A., aims to operate a minimum of twenty tugs in the range 45 to 65 tonne bollard pull. The company has a commitment from a Brazilian Shipyard for building twelve 45 tonne BP and six 65 tonne BP tugs to be locally financed.

Delivery of the first new tugs is planned in the course of 2007. Further tugs will be delivered in accordance with the business plan developed.