Boluda expands in Singapore

SPAIN’S Boluda Towage, now six months into ownership of the former Smit Lamnalco Australia and PNG, has continued its expansion in the eastern hemisphere with the acquisition of Seatrium Group’s tugs and the servicing of their shipyards’ towage requirements business in Singapore.

Seatrium, formed by the merger of Sembcorp Marine and Keppel Offshore & Marine in 2023, headquartered in Singapore but operating in 15 locations worldwide, announced in February this year it planned to divest its fleet of 17 tugs, assessed as non-core assets.

The deal was completed on Friday [24 April] and is expected to deliver more than S$50 million in annualised cost savings.

Boluda said that with this acquisition, the company (49% owned by Mediterranean Shipping Co) enhances its presence in the logistical heart of South East Asia.

“Over the past five years, Boluda Towage has developed a sustained growth plan in the Asia-Pacific region, positioning itself in the main port areas and terminals of Singapore, as well as in the most strategic ports of Malaysia, particularly those linked to container traffic, energy, and petrochemicals,” it said.

“The company operates in the region with an experienced fleet of 156 tugboats, consolidating its operational capacity in one of the most dynamic maritime markets on the planet. With this new acquisition, Boluda Towage reinforces its position in Singapore and Malaysia, expanding its footprint in the Asian market.

“The operation adds to its recent establishment along the northern, eastern, and western coasts of Australia and in Papua New Guinea, and consolidates a regional network that already included a stable presence in Hong Kong and Timor-Leste.

“The integration of Seatrium Group’s harbour tug fleet enables Boluda Towage to strengthen its role as a key partner for shipping lines, terminals, and logistics operators in a region where efficiency and safety are essential for global competitiveness,” the company said.

Meanwhile, two tugs that had been earmarked for Australian deployment under previous management are being relocated to Surabaya.

Boluda purchased four RotorTugs from KOTUG of The Netherlands earlier this year, with three having been in service in north-west Australia and/or Tasmania.

RT Leader, laid up in Sydney, has been renamed VB Sea Hawk, while RT Rotation (which had been on standby in Singapore) has been renamed VB Sea Eagle and both are en route to Surabaya, the former under tow from Sydney by VB Cook. The third RotorTug, RT Sensation, is back in the water in Sydney after overhaul and has been renamed VB Sensation. The fourth of the purchases is Europe-based.