It was announced yesterday that Rimorchiatori Riuniti SpA, which operates towage and harbour services in the ports of Genoa and Salerno, has been selected as the preferred bidder for the government’s shareholding in Tug Malta Ltd.

Negotiations between the Privatisation Unit and the bidder are to commence in the next few days.

The government is selling its 73.72 per cent shareholding in Tug Malta with the aim of obtaining a strategic partner for the company that will help it to diversify its services. Rimorchiatori Riuniti SpA was established in 1922 and also provides special towage services and offshore activities, including anti-pollution services.

In naming it as the preferred bidder, the government said it had accepted the Adjudicating Committee’s recommendation.

Tug Malta was nationalised out of the private companies that used to run the service before 1980. Its only area of operation was Grand Harbour, which was the only shipping harbour in use. But 1989 saw the development of the Malta Freeport and Tug Malta began investing in additional tugs to be able to service the southern port.

Last year it took delivery of two new tug boats.