In August 2019, Royal Boskalis Westminster N.V. and Kotug International B.V. have sold 100% of the shares of Kotug Smit Towage to Boluda Corporación Maritima, S.L.. Kotug Smit Towage was founded in 2016 as response to de developments in the North European harbour towage market. Boluda is a family owned company and a dominant global player in the towage market