Dutch dredging contractor and marine services provider Boskalis announced that it is reviewing its position as a 50% shareholder in Smit Lamnalco, a joint venture in which it is partnered with Saudi Arabian company Rezayat Group, which is also said to be considering its stake in the towage company.
Smit Lamnalco operates 160 vessels in 25 countries, with a staff of about 2,500. It has a diverse fleet of harbour and terminal tugs, as well as offshore support vessels. Lamnalco was started in 1963 when Boskalis and Rezayat launched their 50/50 partnership. In 2011, the company acquired SMIT’s terminals from Boskalis and rebranded as Smit Lamnalco.