Boluda expands with buy-out of SMS Towage

The Spanish towage giant says its broader presence in the UK is a further step towards strengthening its global network and “connecting its activities in the UK”, adding that the geographical footprint of Boluda Towage UK and SMS Towage is complementary.

Boluda operates tugs at Invergordon (Cromarty Firth), London, Liverpool and Southampton with SMS Towage operating in the ports/regions of Tyne, Tees, Humber, Portsmouth, South Wales and Belfast.

On completion of the transaction, SMS will be part of Boluda’s UK organisation with the brand name Boluda Towage SMS with the local management team reporting to Philip Dulson, General Manager, Boluda Towage UK.

The acquisition sees Boluda taking over SMS’s harbour and offshore towage services along with its marine operations, management, office staff, crew and UK-based vessel fleet.

SMS history

SMS operates a fleet of 20 tugs with an average age of 13 years and while two, Guardsman and Irishman, are 35 years old, half the fleet are 10 years old or less. Sanmar-built, Robert Allan Ltd-designed tugs make up half the fleet with its early vessels including examples previously operated by Hong Kong Salvage & Towage.

SMS has a policy of renaming both its newbuild and previously owned successive acquisitions after earlier examples of the same name, keeping alive a tradition of historically recognisable vessels.

SMS was founded in 1992 by Paul Escreet and quickly established itself in the then busy oil rig moving sector. Ten years later it entered the harbour towage business on the River Humber.

Tug fleet

After a period of consolidation, the tug Trueman commenced operations in the Bristol Channel in 2013 with Merchantman and Masterman introduced at Belfast the following year, followed by Portsmouth International Port in 2017 with Irishman and Guardsman.

Its latest addition is the 50tbp, Sanmar-built RAmparts 2200SX tug Tradesman. Launched as Sirapinar XIV, it was named in late 2023 and is currently part of SMS’s Humber-based fleet.

One of SMS’s fleet, Lloydsman will evoke memories of an earlier deepsea salvage tug of the same name built by Robb Caledon in 1971 and owned by another Hull-based company, United Towing. The vessel was famous for its involvement in one of the co-called ‘Cod Wars’ in 1975.

Described as a ‘supertug’, the earlier Lloydsman was built at a time when Dutch and German tugs of a similar size dominated the global market and while various methods of measuring bollard pull were in use at the time. One such interpretation claimed it to be the world’s most powerful tug, other examples of such tugs also claiming the title at the time.

When reviewing SMS’s current fleet composition and areas of operations it is clear why Boluda views acquisition of the ISM-certified company as “complementary” to its own activities.

“The strong local team, with highly engaged colleagues, will bring a lot of experience and expertise to our company,” says Vicente Boluda Ceballos, Vice President executive, Boluda Towage. “Having exciting times ahead of us we certainly intend to deploy SMS Towage’s professional crews and experienced employees on future projects.”

“The decision for us to accept the opportunity to sell SMS Towage to Boluda Towage came at just the right time, as we embark on a new chapter of business growth and development,” said SMS Towage owner Paul Escreet.

“I want to express my heartfelt gratitude to the entire team for their unwavering dedication and hard work while working within SMS Towage. You have been the backbone of our success, and I am confident that under Boluda’s ownership, SMS Towage will continue to thrive.”