Boluda Towage Establishes Presence in Asia with Base in Hong Kong

Boluda Towage, an undisputed international leader in tugboat operations, announces its strategic investment in Hongkong Salvage and Towage Services Limited (HKSTS), a new joint venture formed as a member of CK Hutchison Holdings. The main services of HKSTS include salvage, towing, and maritime project management.

Through this agreement, Boluda expands its business portfolio in Asia and enhances the salvage and towing services of HKSTS, benefiting both companies, commercial clients, and the maritime industry, reports the powerful Valencia-based shipping group.

Vicente Boluda stated: "Boluda's entry into the partnership with HKSTS represents a unique and formidable opportunity to strengthen Boluda Towage in the Asian continent, especially in one of its main ports, Hong Kong. We thank our new partners for their trust in the Boluda family and for partnering with the maritime towing business in Hong Kong".

Regarding the partnership with Boluda Towage, Eric Ip, General Director of Hutchison Ports Group, commented: "We are very pleased with this important strategic and complementary partnership. Boluda is recognized as a global leader in maritime services. Its extensive experience in towing services will enhance our salvage and towing capabilities, creating a strong alliance that will benefit our clients in terms of integrated services. HKSTS is excited to join the Boluda family. We look forward to working with our partner across our port network".

This agreement means that both companies will join forces to develop business opportunities with innovative solutions, supported by a fleet of over 700 vessels from Boluda and the network of 54 ports in 25 countries of Hutchison Ports.

Hutchison Ports is the ports and related services division of CK Hutchison Holdings Limited. Hutchison Ports is the world's leading investor, developer, and operator of ports, with a network of port operations in 54 ports spanning 25 countries in Asia, the Middle East, Africa, Europe, America, and Australasia. Over the years, Hutchison Ports has expanded its activities into other logistics and transportation-related businesses, including cruise terminals, distribution centers, rail services, and ship repair facilities.

In 2022, Hutchison Ports handled a combined volume of 84.8 million TEU.

Hongkong Salvage & Towage Services Limited has taken over the salvage and towing operations previously carried out by Hongkong United Dockyards Limited (operating under its own name or under the name of Hongkong Salvage & Towage).

HKSTS is one of the leading tugboat operators in Hong Kong, with 13 tugboats totaling 57,800 BHP. Its services include towing in ports and at sea, salvage, and oil spill response. HKSTS also plays multiple roles as a designer, owner, operator, and consultant for maritime transport management projects. It manages and operates vessels for the maritime transport of waste for the Government of Hong Kong and is the exclusive service provider and operator of the two dual-fuel reserve vessels for Hong Kong LNG Terminal Limited.

Boluda Towage is a family-owned company, a global leader in maritime services, providing towing services at major ports around the world. This division of Boluda Corporación Marítima is currently present on the continents of Europe, Asia, Africa, and Latin America, operating a solid, diverse, and extensive fleet with dedicated and highly trained employees. This division also offers towing and salvage operations at sea.

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