Business Type: Marine Safety Solutions / Search and Rescue
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Boluda Towage has acquired towage company Resolve Salvage and Fire (Gibraltar) Ltd from Resolve Marine Group.
With this acquisition, Boluda Towage continues its expansion process in the international market, strengthening its presence in the Strait of Gibraltar, the gateway from the Atlantic to the Indian Ocean via the Mediterranean Sea.
Resolve Fire and Salvage, owned by Resolve Marine Group, has decades of experience in towing and marine salvage services for all types of vessels, as well as in engineering and maintenance projects for marine installations and constructions. It operates on both sides of the Strait of Gibraltar; in Cadiz, Algeciras and Gibraltar on the European side, and in Ceuta and Tangier on the North African coast, assisting with manoeuvres.
The Strait of Gibraltar, with a length of 42 miles and a width at its narrowest point of only nine miles, is one of the areas with the highest density of navigation in the world, through which more than 100,000 ships pass each year, more than 10% of the total world traffic.
Resolve’s core division specialises in worldwide salvage, marine firefighting, OPA-90 compliance, lightering, wreck removal, deep water diving, and is a one-stop solution for shipboard fire and hazardous materials response. Resolve Salvage & Fire provides timely response with an array of international resources.
Joseph Farrell III, Deputy CEO of Resolve Marine, said:
“The Port of Gibraltar operations have been part of the Resolve Marine family since 2015. We are excited that Boluda Towage Europe saw the enormous value of a business that serves the Port of Gibraltar, adding to its portfolio of towage services in major global ports.”
Joseph Farrell III – Deputy CEO of Resolve Marine
Boluda Towage, with its HQ in Rotterdam, is a division of Boluda Corporación Marítima that focuses its activity on port, coastal, and offshore towage, as well as maritime salvage. The company will now add the tugs Elliot, Hercules, Rooke and Wellington to its global fleet, increasing its service and support potential and capacity in the Strait.
Last year, Boluda Towage acquired tug owner Smit Lamnalco, then the fifth-largest towage operator globally, bringing Boluda Towage’s fleet to a total of 600 tugboats and an intervention capacity in 50 countries and 148 ports around the world.
The acquisition was welcomed by the Government of Gibraltar and the Gibraltar Port Authority.
Fabian Picardo, Chief Minister, said:
“Recognising the huge value of Gibraltar’s Port and its potential for development and grown, Boluda have chosen to use Gibraltar as a hub for the regional expansion of its operations.”
“I’m pleased to welcome them to Gibraltar. This is further evidence of the strategic importance of Gibraltar and its Port to the global maritime sector.”
Fabian Picardo – Chief Minister of the Government of Gibraltar
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