TUGS expands in Myanmar
Tugboat and marine service provider Harbor Star Shipping Services Inc. (TUGS) is pursuing business opportunities in Myanmar as part of its expansion in Southeast Asia.
The Ministry of Planning and Finance of the Republic of the Union of Myanmar has approved the incorporation of Harbor Star East Asia (Myanmar) Ltd., a wholly-owned subsidiary of TUGS.
TUGS will be marketing its expertise in integrated maritime services.
The World Economic Outlook published by the International Monetary Fund identified Myanmar as among the world’s fastest growing economies with a projected Real GDP growth of 7.6 percent for 2018.
Apart from Myanmar, TUGS is also looking at Indonesia.
The company’s service lines include harbor assistance, lighterage, towing, ship salvage, marine construction, repair and maintenance works, and other marine services.