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Boost for Port of Gibraltar as Spanish company takes over Resolve towage firm
Business

Boost for Port of Gibraltar as Spanish company takes over Resolve towage firm

Valencia-based Boluda Corporación Marítima will use the Rock as a centre for the regional expansion of its operations by acquiring four tugboats

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Gibraltar

Friday, 16 February 2024, 12:14

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An international shipping and tugboat company founded in Valencia has taken over Resolve Salvage and Fire (Gibraltar) Limited, operator of similar services and until now part of a US group.

The Gibraltar authorities said the acquisition by Boluda Corporación Marítima marks a significant improvement of the Port of Gibraltar and will maximise the services available for handling and towing ships in the Strait of Gibraltar.

The minister responsible for Maritime Affairs, Gemma Arias-Vásquez, said, "This is an excellent example of the quality of organisations that want to do business in the Port of Gibraltar, aligning with the government's ongoing efforts to maintain the reputation of the Port of Gibraltar as a global centre of excellence while adapting to global changes in the maritime industry."

Chief Minister Fabian Picardo added, "Recognising the immense value of the Port of Gibraltar and its potential for development and growth, Boluda has decided to use Gibraltar as a centre for the regional expansion of its operations. This is further proof of the strategic importance of Gibraltar and its port to the global maritime sector."

Trade routes

Explaining its move, Boluda Corporación Marítima said, "Following recent developments in the Red Sea, the ports in the Strait area will be the first in Europe to be reached by 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 company has acquired four Gibraltar based tugboats for towing ships - Elliot, Hercules, Rooke and Wellington.

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