Damen Shipyards Group has concluded contracts that will see four new tugs delivered to Hamburg-headquartered Fairplay Towage. Three of the contracts were signed directly with Fairplay. The fourth was signed with another Hamburg operator, Neue Schleppdampfschiffsreederei Louis Meyer, which will long-term bareboat charter the vessel to Fairplay on its delivery.
Based on Damen’s practice of building vessels in series for stock, construction of the tugs had already commenced prior to the contract...