In Piraeus today 22th July 2020, Fintowage S.r.l and Zouros Group are pleased to announce the commencement of operations of NEMECA Z, a joint venture company recently incorporated to undertake harbour towage services in the main Greek harbours commencing activities initially in the ports of Piraeus and Kavala. The relevant transaction closure effectively cemented a year’s long agreement of cooperation which initiated in June 2019.
NEMECA Z shall own and operate a fleet of 8 tugboats and the company will also position itself to render salvage and pollution response as well offshore spot towage engagements in the immediate radius of Greece as well as elsewhere in the Mediterranean basin.
NEMECA Z is owned as to 80% by Fintowage S.r.l and 20% by Zouros Group. Fintowage S.r.l is itself a recently incorporated Italian company equally owned by Rimorchiatori Mediterranei Spa, Neri Group and Cafimar – Rimorchiatori Laziali who amongst them command a fleet of about 200 tugs. The Italian companies have a strong harbour towage presence in Italy, in the Mediterranean Sea as well as beyond. Messrs Zouros have been mandated by NEMECA Z ‘s shareholders to be at the operational helm of the joint venture company capitalizing on their knowledge and expertise of the market whilst taking advantage of the operational and financial synergies of the shareholders of Fintowage S.r.l. The Chairman of Fintowage S.r.l underlined that for the latter the joint venture is of a strategic nature, an investment move which shall serve to consolidate the shareholders’ position in the Med-Sea whilst securing an entrenched position in a very interesting market which is on a growth path across the principal shipping sector of Greece.