Harbor Star Shipping Services Inc. (PSE: TUGS) recently signed a Tug Assist and Mooring Service Contract with Chevron Philippines Inc. TUGS will provide harbor assist and mooring services to tankers calling Chevron’s terminals in Batangas, Cebu, Davao, and Misamis Oriental.
TUGS was awarded the contract after competitive bidding and selection, with nationwide presence, safety, reliability, and track-record used as among the criteria. The contract will be for three (3) years beginning 1 February 2019.
This is in line with TUGS direction to continually enter into exclusive service contracts with customers to guarantee recurring revenue.
Similarly, last December 2018, TUGS entered into a service contract with GNPower Kauswagan Ltd. Co. to exclusively provide the docking, undocking, and emergency requirements of vessels calling GNPower’s terminal in Lanao del Norte. The contract is until December 2019.