TUGS Awarded Salvage Contract

Harbor Star Shipping Services, Inc. (PSE: TUGS), together with T&T Salvage of the United States, was awarded a contract to salvage the Panamanian registered Bulk Carrier “Ambition Journey”. The massive 189-meter vessel ran aground last August 2, 2021, in Sulangan Island in Guiuan town, Eastern Samar.

The contract to salvage Ambition Journey includes refloating the vessel, unloading its cargo of 49,550 metric tons of nickel ore, rendering oil spill control and cleanup operations, and towing the vessel for repairs to the designated shipyard. TUGS and T&T continue to coordinate with the Philippine Coast Guard and the appropriate local government units to ensure the orderly salvage of Ambition Journey and the protection of the marine environment.

In 2020, salvage operations comprised eight percent (8%) of TUGS’ revenues.

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