Steamships has announced a K100 million investment program focused on renewing the fleet of Pacific Towing (PacTow) and expanding localized maritime training initiatives in Papua New Guinea.
The capital allocation is designed to upgrade tugboat capabilities, enhance port safety standards, and develop local maritime skills, addressing critical infrastructure gaps in the region's shipping sector.
The move underscores a strategic push to strengthen operational resilience in key Pacific trade corridors.
By modernizing the towing fleet and investing in human capital, Steamships aims to mitigate risks associated with aging equipment and skill shortages, which can disrupt port operations and increase liability exposure for shipping lines.
This investment aligns with broader industry trends where asset owners are prioritizing safety and efficiency to navigate complex regulatory and operational environments.
This development follows recent activity in the cluster, including a Memorandum of Understanding between Steamships Ship Management and Tetra Tech to resume the Women in Maritime scholarship program.