The company acquires the Ecuadorian operator specialising in harbour towage, offshore services and maritime assistance, strengthening its position on South America’s Pacific coast
Boluda Towage has completed the acquisition of CITITUG, a Guayaquil-based company specialising in towage and maritime assistance services. The transaction represents a further step in its international growth strategy and marks the company’s entry into the Ecuadorian market.
The transaction also includes the integration of CITITUG’s team and a fleet comprising the tugboats Esperanza I, ASD Santa Fe, ASD Mater, ASD Alyssa and Valentina, expanding the company’s capacity to provide towage and maritime assistance services in Ecuador.
With the acquisition of CITITUG, Boluda Towage gains the experience and local knowledge of an operator with more than two decades of experience, as well as specialist capabilities in harbour and sea towage, escort services, offshore operations, salvage and assistance at oil terminals, buoys and single-point moorings.
With the acquisition of CITITUG, Boluda Towage gains the local knowledge of an operator with more than two decades of experience, as well as specialist capabilities in harbour and sea towage, escort services, offshore operations, salvage and assistance at oil terminals, buoys and single-point moorings.
The entry into Ecuador strengthens Boluda’s presence in Latin America and expands its reach along South America’s Pacific coast, a region of growing importance for international maritime trade and connections with major markets in Asia and the Americas.
Vicente Boluda Ceballos, Executive Chairman of Boluda Towage, said: “The acquisition of CITITUG is an important step in our expansion in Latin America and enables us to enter Ecuador alongside a company with extensive experience and in-depth knowledge of the local market. The quality of its team and its operational capabilities complement our international network and reinforce our commitment to supporting our customers wherever they operate.”
The acquisition forms part of Boluda Towage’s international growth strategy, which aims to add complementary capabilities, expand its presence in strategic markets and consolidate a global network of towage and maritime assistance services.
