Boluda Towage expands Asia presence with investment in Hong Kong tug operator

Boluda Towage has confirmed its strategic investment in Hongkong Salvage and Towage Services (HKSTS), a new joint venture formed as a member of CK Hutchison Holdings.

HKSTS’ principal services include salvage, towage, and marine project management business. Through this collaboration, Boluda will be able to expand its business portfolio into Asia and enhance HKSTS’ service offerings of salvage and towage services.

The collaboration will jointly explore business opportunities with support provided by Boluda’s fleet of over 700 vessels and Hutchison Ports’ network of 54 ports in 25 countries.