Ocean Wilsons Holdings said its Brazilian subsidiary had secured money to build 12 new tugboats for its fleet.
The firm said its subsidiary, Saveiros Camuyrano Servios Martimos, had signed up for $135m of financing from Banco do Brasil.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"This is part of the company's strategy to increase and renew its fleet in order to meet the demand driven by growth in the oil and gas industry and international trade flow," the firm said.
The move would "ensure competitiveness in the expansion of our towage operations", it added.
MM
-
Michelin Key Hotels 2025: the top destinations in the worldThe Michelin Keys have been awarded to spectacular hotels across the world. From Marlon Brando's private resort in Polynesia to a Bvlgari hotel in Tokyo, we look at some of the most extraordinary stays in 2025
-
MoneyWeek news quiz: How much could you get in car finance compensation?The car finance scandal, inheritance tax, and house prices all made headlines over the past few days. Test your knowledge while reviewing this week’s top stories with MoneyWeek’s news quiz
