Boluda Towage invests in HK with Hutchison venture

Boluda is taking an undisclosed stake in HKSTS is owned by CK Hutchison Holdings

As new joint venture of CK Hutchison the towage and salvage operations of HKSTS while growing Boluda’s presence in Asia.

Vicente Boluda said: “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. We thank our new partners for the trust they have placed in the Boluda family to be associated with the towage business in 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.

“HKSTS is excited to join the Boluda family. We look forward to working with our partner throughout our network of ports," he added.

Boluda operates a fleet of over 700 tugs while Hutchison operates a network of 54 ports in 24 countries.

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