Xiamen: China's Xiamen International Port penned a purchase contract to acquire four newbuilding tugboats from Jiangsu Zhenjiang for a price of RMB110m ($17.6m).The four new tugboats, scheduled for delivery by 18 January 2014, will be operated and managed by Xiamen Port Shipping, an indirect non wholly-owned subsidiary of Xiamen International Port.Xiamen International Port said the vessel acquisition will enable the group to “expand its existing tugboat fleet at an attractive price to meet growing customer demand in a more cost-effective manner and enhance the group's revenue as a result.”