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VT Group acquires Boluda Group tanker business

Photo: VT Group Picture1.jpg
VT Group has reached an agreement with Boluda Group for the acquisition of the Tanker activities and assets of Boluda Corporación Marítima (Boluda).

Boluda’s tanker activities comprises operations in mainland Spain (Barcelona, Algeciras, Gibraltar), Morocco (Cueta), the Canary Islands (Las Palmas), Trinidad & Tobago and Panama (Balboa, Cristobal).

Boluda, based in Valencia, Spain, is split into three divisions: Boluda Towage (for towing services), Boluda Lines (for maritime and ground transport, and the harbour logistics) and Boluda Tankers (for the supply and support of combustible materials).

The fuel supply and transport service is offered via the Boluda Tankers division, with tankers equipped with the most innovative technical characteristics, a strategic service in the port areas. Leader in the sector in Spain and with an annual supply capacity that exceeds twelve million tonnes of fuel. Eleven tankers are managed in Spain, and four tankers are managed from the office in Panama.

The scope of the transaction includes the acquisition of the companies and the equipment including the ongoing commercial contracts of Boluda Tankers and associated companies.

Through this transaction VT Group strengthens its position in the bunker hotspots in Southern Europe, Central America and the Caribbean as part of its strategy to grow with its customers in their bunkering hubs.

It is the intention to close the transaction early in the third quarter of 2020 subject to the satisfaction of customary conditions.