Japanese owner NYK is combining two towage companies.
It said Wing Maritime Service and Kaiyo Kogyo will merge on 1 July.
"The social structure and the business environment surrounding the NYK Group is dramatically changing, and NYK will integrate the management resources of these two companies to increase efficiencies and create value in accordance with the group’s medium-term management plan 'Staying Ahead 2022 with Digitalisation and Green'," it added.
It has not yet decided on a name for the new company, but Kaiyo president Yukihiro Tatara will be in charge.
