The towing company Boluda Towage of the Spanish group Boluda Corporación Marítima has further expanded its presence in Asia, so far limited to the region of the Indian Ocean, acquiring a stake in the Hongkong Salvage and Towage Services Ltd. (HKSTS), a new joint venture formed together with the CK Hutchison Holdings Ltd. group of Hong Kong, which has made the rescue and towing activities operated by Hongkong Salvage & Towage Ltd. (HKST) of the Hongkong Group United Dockyards Ltd. (HUD) which is wholly owned of CK Hutchison Holdings. The latter is active in the port sector mainly through the company terminalista Hutchison Port Holdings of which it holds 80% of the capital.

"Boluda's entry into the Hong Kong partnership Salvage and Towage Services Limited - underlined the president of the Boluda Corporación Marítima, Vicente Boluda Fos - represents a unique and fantastic opportunity for strengthen Boluda Towage on the Asian continent and, in particular, in one of its main ports: Hong Kong'.

The new joint venture also strongly strengthens ties among the Boluda maritime group, which has a fleet of more than 700 ships, and the network of terminals operated in 54 ports by Hutchison Ports.