Boluda Towage invests in new JV to expand presence in Asia

Boluda Towage invests in new JV to expand presence in.png

The world’s largest tugboat operator Boluda Towage has decided to invest in Hongkong Salvage and Towage Services Limited (HKSTS), a new joint venture (JV) formed as a member of CK Hutchison Holdings. HKSTS’ principal services include salvage and towage and marine project management business.

Through this collaboration, Boluda Towage believes it will be able to expand its business portfolio into Asia and enhance HKSTS service offerings of salvage and towage services.

Vicente Boluda, president of Boluda Towage, stated, “Boluda’s entry into the Hongkong Salvage and Towage Services Limited partnership has been a unique and formidable opportunity to strengthen Boluda Towage in the Asian continent and especially in one of its main ports, Hong Kong.”

Commenting on the partnership with Boluda, Eric Ip, Group Managing Director of Hutchison Ports, said, “We are very pleased with this major strategic and complementary partnership. Boluda is recognised as a global leader in maritime services. Its extensive experience in tugboat services will boost our salvage and towage capabilities, creating a strong alliance that will benefit our customers in terms of integrated service offerings.”

Group photo of senior management teams of Boluda and Hutchison Ports at the signing

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