Spain’s Boluda Corporacion Maritima has pulled off a major coup by capturing the fleet of offshore and towage company Smit Lamnalco.
The deal has been carried out through its Boluda Towage division, making it a world leader in the sector.
No price has been revealed for the agreement.
Boluda believes the combined operation has high growth potential and the capacity to further consolidate the industry.
The Spanish group's activities will be boosted in Australia, the Middle East and West Africa, with a presence in 50 countries.
The new entity will have a fleet of more than 600 tugs, as well as 19 offshore support vessels (OSVs) controlled by Smit Lamnalco.
The Rotterdam-based business has been sold by 50/50 partners Boskalis Group of the Netherlands, a shipowner, and Saudi Arabian ship manager and broker Rezayat Group.
Smit Lamnalco has more than 1,600 staff and owns 111 vessels.
In 2021, both Boskalis and Rezayat said they were exploring their positions as strategic shareholders.
Vicente Boluda Fos, chairman of Boluda Corporacion Maritima, said: "Boluda is a company that has never stopped growing and transforming itself."
Turning point for the industry
"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," he added.
The chairman believes the industry is at a turning point, impacted by the climate emergency and geopolitical tensions.
“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,” he added.
The family-owned group has been building both its shipping and towage division in recent years. It owns five container vessels and four anchor-handlers aside from the tugs.
In 2017, Boluda bought the German towage companies Unterweder Reederei and Lutgens & Reimers, before adding Kotug Smit Towage in 2019. Boskalis was a part owner of Kotug Smit.
Two years later, the harbour and offshore activities of Iskes Towage & Salvage were acquired, and Caledonian Towage (Scotland) was bought in 2021.
Boskalis has held its stake in Smit Lamnalco since 1964.
VesselsValue assesses the 19-ship OSV fleet, including anchor-handlers, as worth $63.5m.
Wind focus
Boskalis is moving more into offshore wind farm work and has been selling non-core operations in recent years.
In 2021, the company banked about €80m ($91m) from selling its Asian tug businesses.
Boskalis had a 49% stake in Keppel Smit Towage (KST) and Maju Maritime, which control 58 ships.
The company operates in harbours in Singapore and Malaysia.
The buyer was Italian company Rimorchiatori Mediterranei, which is part of Rimorchiatori Riuniti Group.
