Boluda Towage, one of the divisions of Boluda Corporación Marítima that focuses its activity on port, coastal, and offshore towage, as well as maritime salvage, acquires the towage company Resolve Salvage and Fire (Gibraltar) Ltd.
With this acquisition, Boluda Towage continues its expansion process in the international market strengthening its presence in a strategic point for maritime transport such as the Strait of Gibraltar, the gateway from the Atlantic to the Indian Ocean via the Mediterranean Sea.
Resolve Salvage and Fire, owned by Resolve Marine Group, 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 Towage has been operating for many years on both sides of the strait; 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, aware of its responsibility and sustainable commitment, is 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.
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. The conditions in the area, with strong and variable tides, powerful easterly and westerly winds, and frequent fog banks due to the high temperatures, make the work of the tugboats essential for the optimization of operations.
Resolve Marine Statement
Resolve Marine, a global leader in ship and vessel salvage, emergency response, and specialized marine services, announced the sale of its Gibraltar operations. Two divisions are part of the sale: the company’s harbor towing operations and fleet were sold to Boluda Towage Europe, and the marine services business, to Elias Tapiero of ORC Marine. Terms of the deal were not disclosed.
Commenting on sale, 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.” Farrell further expressed his gratitude towards the dedicated team in Gibraltar, acknowledging, “Our success in the region is a testament to the hard work and commitment of our professionals on the ground. Their efforts have been instrumental in our achievements here.”
The acquisition continues Boluda’s expansion in the international market and reinforces its strategic presence for maritime transport in the Strait of Gibraltar, the gateway from the Atlantic to the Indian Ocean through the Mediterranean Sea. The newly acquired purchase of a marine services business broadens the range of services Boluda can offer its clients in the local market.