Steamships Trading Company stock: PacTow takes delivery of two tugs
Published on 11/01/2026 at 00:04 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSSteamships expands marine logistics
- Pacific Towing has added two ASD tugs as part of a fleet modernization program.
- The investment strengthens Steamships' marine-services platform in Papua New Guinea.
- The move supports a broader strategy spanning logistics, hospitality and property.
Pacific Towing, a Steamships Trading Company subsidiary, took delivery of two new ASD tugs on October 16, 2026. The Steamships Logistics announcement said the Pacific Responder and Pacific Resolute represent a PGK70 million investment in marine towage capacity.
The vessels were built in Zhenjiang, China, and are intended to support Pacific Towing's fleet modernization. The company said the investment is aimed at improving towage capability and reinforcing port services in Papua New Guinea, where reliable maritime infrastructure is important for resource, trade and domestic supply chains.
Fleet renewal targets port services
The delivery adds operating capacity rather than marking a change to Steamships' overall business model. The group has more than a century of operations in Papua New Guinea and combines shipping and logistics with property, hotels and commercial activities.
For investors, the update highlights capital allocation toward physical infrastructure and specialized marine services. The longer-term benefit will depend on fleet utilization, demand for port support and the group's ability to earn returns across its diversified operations.
Local group with diversified operations
Steamships Trading Company operates from Papua New Guinea across logistics, shipping, property and hospitality. Its logistics activities include marine towage and related port services, while its property and hotel operations give it exposure to domestic commercial and travel demand.
In hospitality, the group competes with operators such as Coral Sea Hotels and the Sheraton Port Moresby Stanley Hotel & Suites. In marine and logistics services, Steamships operates alongside regional providers including Swire and P&O Maritime, while retaining a distinctly Papua New Guinean operating footprint.
Broader regional developments can be followed through Current market reports.
Further company developments are available in More news and analyses on Steamships Trading Company stock.
Steamships Trading Company at a glance
- Company: Steamships Trading Company Limited
- ISIN: PG0008858709
- Ticker: SST
- Home exchange: Australian Securities Exchange
- Latest operating update: Pacific Towing took delivery of two ASD tugs on October 16, 2026
- Investment: PGK70 million
