Ocean Wilsons Holdings gets cash for boats

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.

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"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.

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