Boluda Towage to acquire Smit Lamnalco

Boluda Towage, a division of Valencia-based Boluda Corporación Marítima, is to acquire Rotterdam-headquartered Smit Lamnalco, the world’s fifth-largest towage operator with a fleet of 111 tugs operating in regions including Australia, the Middle East, and West Africa.

The takeover, still subject to regulatory approval in several countries, will boost Boluda’s fleet to 600 tugs and provide it with an intervention capacity in 50 countries and 148 ports around the world, the company said. Smit Lamnalco, 50% owned by Boskalis Group and Rezayat Group, employs 1,600 people and has a broad customer base across the LNG, tanker and bulk carrier sectors.

The latest acquisition by the Spanish company follows a series of other deals. In 2017, Boluda Corporación Marítima took over German towage companies Unterweder Reederei and Lutgens & Reimers. Two years later, it acquired Kotug Smit Towage. In 2021, it bought the harbour and offshore activities of Iskes Towage & Salvage, and in December 2021, it took over Caledonian Towage (Scotland).

Commenting on the latest acquisition, Boluda Corporación Marítima chairman, Vincente Boluda Fos, said: “Boluda is a company that has never stopped growing and transforming itself. 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."

"The industry is at a turning point, impacted by the climate emergency and geopolitical tensions,” he continued. “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”.  

Vincente Boluda Ceballos, deputy chairman of Boluda Towage, added: “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.”