Boluda acquires Arctia stake in Finnish ice-breaking tug owner

Spanish tug owner Boluda Towage has acquired a 90% controlling stake in Arctia Karhu in Finland to provide ice-breaking, ship towage and manoeuvring services in Finnish ports. Minority shareholder Kemi Port Authority will retain a 10% holding.

In connection with the share sale, all Arctia Karhu’s operations will continue normally and there is no personnel impact, said Boluda.

“To ensure the seamless transfer of the operations, Arctia will provide support to Arctia Karhu during a transition period.”

Boluda has made a strategy of acquiring independent owners of tugs and ice-breaking vessels in Finland in the past year, and this is the latest deal in enabling the global vessel owner to become a leader in this market.

Arctia Karhu provides ship towing and harbour ice-breaking with vessels operating mainly in the ports of Kemi and Tornio.

“This purchase is a further step in our consolidation in the Scandinavian market, providing coverage to our customers in the northern-most part of the Baltic Sea, reinforcing our team in Finland with a fleet operating in the ports of Kokkola, Vaasa, Raahe, Kemi and Tornio,” said Boluda Towage Finland managing director, Jani Hannula.

Arctia chief executive, Maunu Visuri, said the company would “focus even more on its special assignment in ice breaking, fairway maintenance and marine survey services.”

In October 2024, Boluda acquired Finnish harbour towage and icebreaker company Yxpila Hinaus-Bogsering, which operates in the Finnish port of Kokkola providing harbour towage and icebreaking services. In that deal, Boluda added six vessels to its fleet, five of them being icebreakers.