SPAIN’s Boluda Corporación Marítima is officially the new owner of Smit Lamnalco’s Australian and Papua New Guinea towage and associated business.
As exclusively foreshadowed by DCN [15 August] the takeover of SL’s local operations continues a rampant expansion program by Boluda over the past two years which includes a merger with MedTug in February this year, when the MSC-owned company contributed its 20 tugs for a 49% stake in Boluda, now the world’s largest towage operator.
SL parent Royal Boskalis NV announced the Australia/PNG sale in its half-yearly report but did not disclose the buyer.
However, the US$640 million deal closed on 30 September and was officially announced by Boskalis and Boluda on 2 October European time.
According to Vicente Boluda Ceballos, President of Boluda Towage: “With this operation, we consolidate our presence on a global scale, being active in all four hemispheres to continue providing the best service to our clients across more countries and ports worldwide. We also aim to support the development and improvement of port infrastructure wherever we operate, always ensuring safety and sustainability.”
The acquisition adds 39 modern and versatile tugs to Boluda’s network, along with operations in nine key ports and a regional headquarters in Sydney. With a team of 400 new professionals, including seafarers and shore personnel, the company expands its reach in one of the most dynamic regions of international maritime trade, it said.
“The ports of Weipa, Townsville, Mackay, Gladstone, Brisbane, Newcastle, Botany, Melbourne, and Papua New Guinea now join Boluda’s network, strengthening its role in the export of essential commodities for the energy, technology, and steel industries worldwide.
“This integration not only enhances service capabilities for international clients but also allows Boluda Towage to consolidate its position in Asia, where it already operates in Hong Kong, Singapore, Malaysia, and Timor-Leste. From this new base in Australia, the company can more efficiently connect local resource production with key consumer markets, particularly in Asia, ensuring the continuity of global trade flows.”
David Fethers, formerly MD SL Australia/PNG and now CEO/MD Boluda Towage Australasia, told DCN:
“The future is very bright. With Boluda as our shareholder, we have the backing of a company that truly understands and is committed to the towage business.
“Their global expertise and resources, combined with a more decentralised management structure, will allow us to be more dynamic and responsive to client needs across Australia, Papua New Guinea, and the wider region.
“This is a growth story, and we are excited to take it forward.”
In a message to employees SL chief Robert Jan van Acker said the activities of the company in Australia and PNG had always had a strong focus on harbour towage services. “Combining our extensive (regional) experience and long-lasting industry relations, together with Boluda’s entrepreneurship and global coverage will create a strong player in the (harbour) towage market, needed to further develop and exploit future growth opportunities within the Australia region.
“The transfer of our Australia and PNG activities is in line with Smit Lamnalco’s Strategic Plan 2025 - 2027 aiming on positioning Smit Lamnalco more towards the high-end marine services market.
“We like to use this opportunity to sincerely thank all employees who have been involved in our Australia and PNG activities over the past years. Your hard work, dedication, and professionalism have laid a solid foundation for what we are confident will be a successful next chapter under new ownership. The strong performance you have demonstrated over the past years played a crucial role in bringing this transaction to completion,” he said.
For his part, Mr Fethers told staff Boluda Towage is the world’s leading towage company, with a sharp focus on harbour and terminal towage operations.
“Their decision to invest in us reflects the strong reputation we have built, the professionalism of our people, and the trust of our clients. Just as importantly, it connects us with an owner whose entire mission is dedicated to the industry we know best.
“Boluda also leads the way in sustainability. Around the world they are driving innovation in tug design, alternative fuels, and cleaner operations. This global expertise and investment will help us meet the growing expectations of our customers and communities for safe, reliable, and sustainable services.
“What does this mean for you?
In a letter to partners, Mr Fethers elaborated further on the transaction:
“First, I want to acknowledge the sale process itself. Our previous shareholders elected to keep this process confidential until its conclusion. This was their decision and beyond our control, but I recognise that it may come as a surprise to some. I want to assure you that our team has remained fully focused on service delivery throughout, and we are committed to maintaining the transparency and trust you expect of us.
“What does this change mean for you? In short, continuity. There will be no changes to our fleet, operations, management team, or employee arrangements that would affect the day-to-day delivery of services. You can continue to rely on the same people, vessels, and commitment to operational excellence that you do today.
“Looking ahead, the future is very bright. Boluda Towage is the world’s leading towage company, dedicated exclusively to harbour and terminal operations. They bring global scale, deep industry expertise, and a long-term commitment to the business we know. Their leadership in sustainability, innovation, and fleet renewal will enhance our ability to deliver safe, reliable, and environmentally responsible towage services.
“Importantly, the move to Boluda also brings a more decentralised management structure. This means we will be more dynamic and able to react faster to client needs, while still drawing on the global knowledge and resources of the wider Boluda group,” Mr Fethers wrote.
“In short, while ownership changes, our focus does not: we remain committed to delivering first-class towage services across Australia, Papua New Guinea, and the wider region. With Boluda behind us, we are confident that we can deliver even greater value and support your future growth.”
Boluda Towage Australasia has 39 tugs in operation, under management or chartered out, as well as smaller craft. As the tugs come up for docking the VB prefix will replace SL.