Spain’s Boluda Towage buys Gibraltar-based towage company Resolve

Boluda Towage, a division of leading Spanish maritime operator Boluda Corporación Marítima, has acquired the Gibraltar-based towage company Resolve Salvage and Fire (Gibraltar) Ltd.

The acquisition for an undisclosed sum is part of Boluda’s international expansion, strengthening its presence in the Strait of Gibraltar.

Resolve Salvage and Fire, owned by Resolve Marine Group and formerly TP Towage, is a company with 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.

“This incorporation will not only be fruitful for both parties, but especially for Boluda Towage’s customers, who will have a wider range of services and a greater capacity for intervention,” Boluda aid in a statement.

Boluda Towage has been operating for many years on both sides of the strait, including in Cadiz, Algeciras, and Gibraltar - on the European side - and in Ceuta and Tangier - on the North African coast - assisting with manoeuvres in all these important ports.

With this acquisition, Boluda Towage adds the tugs Elliot, Hercules, Rooke, and Wellington to its extensive global fleet, increasing its service and support potential and capacity in the strait.

Boluda Towage said it was strengthening its activities despite global geopolitical tensions.

“Following the latest events in the Red Sea, the ports in the Strait of Gibraltar will be the first in Europe to be touched by the shipping lines now sailing the Cape of Good Hope route and will be a key point on the trade routes between Europe and Asia,” it said.

The acquisition was welcomed by the Government of Gibraltar and the Gibraltar Port Authority.

They said in a statement that it would strengthen the port’s capabilities.

“I was delighted to meet with the owners and senior representatives of Boluda and welcome their decision to expand their international operations to Gibraltar,” said Port Minister Gemma Arias Vasquez.

“This is a prime example of the quality of organisations wishing to do business at Gibraltar Port, which goes hand-in-hand with the Government’s continued efforts to maintain Gibraltar Port’s reputation as a global ‘Centre of Excellence’ while being adaptable to the global changes in the maritime industry.”

The Chief Minister, Fabian Picardo, 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.”