Boluda Corporación Marítima, through its Boluda Towage division, has reached an agreement to acquire Smit Lamnalco, the world's fifth-largest towage operator.
With the acquisition of Smit Lamnalco, Boluda Towage will boast a fleet of 600 tugboats with its tendrils reaching 50 countries and 148 ports around the world.
Smit Lamnalco is 50% owned by Boskalis Group and Rezayat Group currently employing more than 1,600 people and owning 111 vessels.
"Boluda is a company that has never stopped growing and transforming itself," said Vicente Boluda Fos, Chairman of Boluda Corporación Marítima. "This new stage is the logical consequence of previous evolutions that, over the last few years, have made us number 1 in port logistics services and in the towage sector. The industry is at a turning point, impacted by the climate emergency and geopolitical tensions. Shipping is at the center of these issues, facing challenges like never before."
The acquisition is subject to regulatory approvals in several countries.