Boluda Towage in a Milestone Acquisition of Smit Lamnalco Bolsters Towage Industry

Photo credit: Boluda Towage

Boluda Corporación Marítima, through its Boluda Towage division, seals a deal to acquire the world’s fifth-largest towage operator, Smit Lamnalco, a Dutch company which is 50% owned by Boskalis Group, and 50% by Rezayat Group.

With the new acquisition, the family-owned company Boluda Towage, the business line of Boluda Corporación Marítima that focuses its activity on port, coastal and offshore towage, as well as maritime salvage, becomes one of the world’s leading companies in the sector, with a fleet of 600 tugboats, and an intervention capacity in 50 countries and 148 ports around the world.

Currently the company owns 111 vessels, and this strategic movement will strengthen its foothold in strategic markets such as Australia, the Middle East, and West Africa.

In the announcement of the acquisition, the company didn’t disclose the price, but only mentioned that the agreement reached is still subject to regulatory approvals in several countries.

Smit Lamnalco, a company with more than 55 years of operational experience, presence in more than 20 countries, and with more than 1,600 employees worldwide, will be able to reach strategic markets where Smit Lamnalco has a strong presence such as Australia, the Middle East, and West Africa.

“Smit Lamnalco is a solid company with more than 55 years of operational experience, present in more than 20 countries and with more than 1,600 employees worldwide. I have no doubt that this operation will be fruitful for both parties, and especially for our customers who will benefit from a consolidated team, a diversified offer, and a greater capacity for intervention and innovation,” says Vicente Boluda Ceballos, Deputy Chairman at Boluda Towage.

In recent years, Boluda Corporación Marítima, despite the tensions in the world economy, has strengthened its activities, both in its shipping division, and in the Boluda Towage division.

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