Prime maritime services
Panama-based Meyer’s Group, a consortium of interdisciplinary companies operating in the maritime and construction sectors, is aiming high – despite its relatively short history. Following news that the group has further strengthened its position by entering into a new strategic partnership, Romana Moares spoke to CFO Gustavo Mittelmeyer and CEO Michel Mittelmeyer about the company’s recent developments, key competitive advantages and its ambitious plans for the future.
Meyer’s Group, founded in 2006, offers an innovative package of products and services to clients from the land transportation, maritime, construction and agro industrial sectors, with a strong focus on its core business – tugboat services.
Over the past decade, the company has demonstrated its strong potential; at the end of 2017 for example, its maritime business achieved a very good financial performance, claiming an estimated tugboat market share of 20% in Central and South America. Production capacity has increased as a result of a new strategic partnership, expanding customer base and stronger presence in the region.
New CPT partnership
“Our group history begins with my grandfather who was a merchant marine mechanical engineer, born in Hamburg, Germany,” said CEO Gustavo Mittelmeyer. “My brother inherited this passion for the sea and, in the early 2000’s, started his first business in Venezuela as a shipbroker. Gradually, the business grew and later transformed into a tugboat company.
“A turning point came with the decision to establish our operations headquarters in Panama, which opened up a whole new set of opportunities. Today we are the second biggest tugboat operator in the country with a presence in all the major ports in Panama, a very strong position in Central America, and growing fast. We employ some 500 to 700 people and the number will increase this year as a result of potential new businesses in Central America we are currently working on.”
The company has just embarked on a new stage of its development by entering into partnership with one of the biggest players in the South American region with a history of more than 100 years – Chile’s CPT Group, or more specifically, CPT’s tugboat division CPT Remolcadores, which currently operates in Chile, Peru and Ecuador.
“The partnership will significantly reinforce our position in the region,” confirmed Mr Mittelmeyer. “CPT has a fleet of over 40 tugboats, an office network covering the whole area of Central and South Americas and a client base worldwide.”
As a result of the partnership, Meyer’s Group has expanded its fleet with two of the most modern tugboats in the market, delivered by Damen Shipyards in the Netherlands. The boats have an 80-ton bollard pull capacity and are equipped with state-of-the-art technology guaranteeing not only the best performance for clients but also enhancing the Meyer’s Group’s security of operations with fully automated functionalities.
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