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Boluda acquires icebreaker tug subsidiary from the state shipping company of Finland

The Spanish maritime group completes its second acquisition in the Scandinavian country, adding two Arctia Karhu vessels to its fleet of 400 tugboats

Boluda Corporación Marítima continues to expand its fleet and port operations within its core business segment—tugboat services—in which it is already one of the world’s leading operators. The Spanish company has completed its second acquisition in recent months in Finland, acquiring a majority stake in a tugboat firm previously owned by the state-owned shipping company Arctia Ltd.

The shipping group, owned by the State of Finland, has reached an agreement to transfer its 90% stake in Arctia Karhu Ltd to Boluda Towage Finland Oy, the subsidiary of the Valencia-based group in the country. The remaining 10% will remain with the Port Authority of Kemi, one of the two ports where the company operates in the north of the Baltic Sea.

Arctia Karhu, the company acquired by Boluda, provides port tug and icebreaking services, operating primarily in the ports of Kemi and Tornio with two vessels that will now join the Boluda Towage fleet. According to the state-owned shipping company of Finland, Arctia Karhu has around 12 employees.

“This acquisition is another step in consolidating our presence in the Scandinavian market, providing coverage to our clients in the northernmost part of the Baltic Sea and strengthening our team in Finland with a fleet operating in the ports of Kokkola, Vaasa, Raahe, Kemi, and Tornio,” stated Jani Hannula, Managing Director of Boluda Towage in Finland.

Previous Deal
Just a few months ago, Boluda Towage—Boluda Corporación Marítima’s towing and salvage division—acquired the company Yxpila Hinaus-Bogsering (YHB), based in Finland. The new acquisition complements that deal, as YHB primarily operates in the port of Kokkola, further strengthening the Spanish group's presence in Scandinavia—a region expected to gain strategic importance due to Arctic shipping routes.

The Boluda subsidiary, which recently reached an agreement with global shipping giant MSC to increase its stake, continues to solidify its position as one of the largest global players in port towing services.

Boluda currently operates a fleet of over 400 vessels across major ports in Europe, Africa, the Indian Ocean, Southeast Asia, and Latin America.

Source: El Economista