Marrakech – Marsa Maroc has concluded a strategic agreement to acquire a 45% stake in Spanish port operator Boluda Maritime Terminals (BMT), part of Boluda Corporación Marítima, for €80 million, representing one of the company’s major expansions beyond African markets into European port operations.
The transaction involves Marsa Maroc International Logistics (MMIL), a wholly-owned subsidiary responsible for international development, acquiring 45% of BMT’s capital and voting rights. The deal was authorized by Marsa Maroc’s Board of Directors on November 19 and remains subject to regulatory approval.
BMT operates nine maritime terminals strategically located between the Iberian Peninsula and the Canary Islands. The terminals are situated in Las Palmas, La Palma, Tenerife, Lanzarote, Fuerteventura, Seville, Vilagarcía, Cádiz (Concasa), and Santander.
In 2024, BMT’s terminals handled more than one million twenty-foot equivalent units (TEU), confirming their key role in managing Peninsula-Canary Islands traffic flows. The terminals serve as strategic platforms for Boluda Lines’ 11 maritime routes connecting the Iberian Peninsula to the Canaries, Balearics, Northern Europe, Italy, West Africa, and Cape Verde.
The partnership establishes Marsa Maroc’s presence on both sides of the Strait of Gibraltar. The Moroccan operator now controls approximately 34 terminals across 20 ports, constituting a landmark step in its cross-regional footprint.
“This strategic partnership opens the way for synergies between Marsa Maroc and Boluda Corporacion Maritima, which will pool their expertise and complementary assets in port terminal management,” according to the joint press release issued in Madrid on Monday.
The agreement reflects a high degree of alignment between the two companies. Both groups aim to strengthen their positioning on the Morocco-Spain corridor, described as a major maritime axis between the two shores of the strait, as well as expand internationally, particularly in Africa.
The transaction occurs as the European Union remains Morocco’s primary commercial partner, accounting for nearly 65% of the country’s external trade. Spain serves as the main gateway for Moroccan exports to the European market, with a significant portion of trade flows transiting through Spanish ports.
For Marsa Maroc, the deal represents the second major partnership with the Boluda Group. In early April, the groupement formed by Marsa Maroc and Boluda Towage France secured authorization to provide towage and assistance services at Nador West Med port for 20 years.
That partnership involved a joint subsidiary with Boluda Towage France holding 51% and Marsa Maroc 49%, with investments of approximately MAD 488.25 million ($48.83 million) for four tugboats.
Founded in 1837, Boluda Corporación Marítima operates as the world’s number one maritime services company, with a presence across five continents. The Spanish group holds a key position within the global maritime logistics chain through its extensive network of routes and terminal operations.
Founded in 1837, Boluda Corporación Marítima operates as a global leader in maritime services, with a presence across five continents. The Spanish group holds a key position within the global maritime logistics chain through its extensive network of routes and terminal operations.
The partnership is fully embedded within Marsa Maroc’s “Marsa 2030” strategic plan, which aims to position the group as a regional port operator of reference. The international strategy, led by MMIL, focuses on integrating major projects alongside leading international partners within global maritime and logistics value chains.
The deal reinforces the Morocco-Spain maritime corridor and creates opportunities for enhanced logistics solutions connecting European and African markets. The transaction enables Marsa Maroc to better support Moroccan exporters through more integrated logistics solutions with improved connectivity to European markets.
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