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Boluda Towage set to acquire Smit Lamnalco
Boluda Towage, a subsidiary of Spanish shipping group Boluda Corporación Marítima, has reached an agreement with current owners Boskalis and the Rezayat Group, to acquire Smit Lamnalco, the world’s fifth-largest tug owner
Boluda Towage said it would become a world leader in tug ownership, with high growth potential and the capacity to further consolidate the sector.
“This operation will enable the company to strengthen its presence in strategic markets such as Australia, the Middle East and West Africa, with a presence in 50 countries,” said Boluda Towage.
This acquisition will mean Boluda Towage will operate a fleet of 600 tugboats and other vessels in 148 ports around the world, and become an owner of offshore support vessels.
“Boluda is a company that has never stopped growing and transforming itself,” said Boluda Corporación Marítima chairman Vicente Boluda Fos.
“This new stage is the logical consequence of previous evolutions that, over the last few years, have made us number one in port logistics services and in the towage sector.”
Smit Lamnalco employs more than 1,600 people and owns 111 vessels, supporting LNG carriers, tankers and bulk carriers in terminals and floating loading and unloading projects.
“The industry is at a turning point, impacted by the climate emergency and geopolitical tensions,” said Mr Boluda Fos. “Shipping is at the centre of these issues, facing challenges like never before. As a global leader, we are aware of our responsibilities and we will continue to commit to sustainable development, which benefits society and its development.”
In recent years, Boluda Corporación Marítima, despite the tensions in the world economy, has strengthened its activities, both in its shipping division and in Boluda Towage, including acquiring tug operations in northern Europe.
Its confirmation of the Smit Lamnalco acquisition confirms rumours that have circled the towage industry for several months.
Boskalis and Rezayat announced they were planning to divest Smit Lamnalco in December 2021, at a time when the fleet was expanded with the addition of four new vessels built by Uzmar to support the Coral Sul floating LNG project in Mozambique.
“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,” said Boluda Towage deputy chairman Vicente Boluda Ceballos.
“I have no doubt this acquisition 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.”
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