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VT Group completes Boluda acquisition

The purchase of Boluda Corporación Marítima’s operations and assets will see VT grow its bunkering operations in Spain and Panama.

Under the terms of the deal first announced in June, VT has acquired operations in Barcelona, Algeciras and Gibraltar, in Ceuta, in Las Palmas in the Canary Islands, in Trinidad & Tobago, and in Balboa and Cristobal in Panama.

Boluda Tankers’ annual fuel supply capacity is over 12 million tons, and its business assets include include 11 tankers managed in Spain and four which are managed from the Panama office.

Under the terms of the purchase agreement, VT Group will also take on the ongoing commercial contracts of Boluda Tankers and associated companies.

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