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Grupo TMM reduces its shipping fleet from 36 to 27 ships

Grupo TMM reduced its maritime transport fleet from 36 to 27 vessels considering the years ended in March 2019 and 2020, respectively.

Until before the end of March 2020, the company operated 24 supplying vessels, with no changes in that indicator compared to a year earlier; 1 tanker (three fewer), 2 parcel ships (same as a year earlier) and 6 tugboats stopped operating.

From another measurement, the total deadweight tons decreased from 253,500 to 110,600, comparing the same years.

At the same time, its total capacity of cubic meters dropped from 237,800 to 84,500.

TMM Group

After the deconsolidation of TMM DM in December 2017, Grupo TMM entered into a Maritime Services Agreement with TMM DM in which it agreed to operate, market and manage the 24 vessels owned by TMM DM (23 supplying vessels, 1 tanker).

The terms of the contract establish that TMM DM will pay a rate based on the income generated by the vessels and their operating costs.

Tugs

In January 1997, its subsidiary TMM (formerly Servicios Mexicanos en Remolcadores, SA de CV) obtained a concession to provide tug services at the port of Manzanillo, including docking, undocking and port navigation in and out of channels and port facilities. in the open sea.

In December 2019, Grupo TMM sold the concession, 100% of the shares of its subsidiary Snekke S.A. de C.V., and the tug “TMM Colima” to an unrelated third party.

After the sale, Grupo TMM went out of the port towing business, ending its tug services in Manzanillo involving the port tugs “TMM Cuyutlan” and “TMM Tepalcates”, which were sold to Snekke S.A. de C.V. by TMM DM.

On December 15, 2017, as part of a corporate restructuring to improve its debt level, Grupo TMM transferred 85% of the shares of its subsidiary, TMM DM, owner and operator of supply ships, tankers and tugs to the holders of Fiduciary Stock Certificates issued by TMM DM under the Fiduciary Stock Certificates Program.

As a result of such transfer, it no longer exercises control over TMM DM and its Financial Statements no longer include assets, liabilities or profits (losses) of TMM DM.

Consequently, the company will continue to operate the supply vessels and tankers owned by TMM DM, in accordance with a Maritime Services Contract. The terms of the contract establish that TMM DM will pay a rate based on the income generated by the vessels and their operating costs.

The contract does not foresee non-competition restrictions, allowing it to continue its efforts to expand its existing fleet and develop new maritime businesses.

 

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