Casablanca – Morocco’s leading port operator, Marsa Maroc, has signed a strategic agreement to acquire a 45% stake in Boluda Maritime Terminals (BMT), the port subsidiary of Spain’s global maritime services leader, Boluda Corporación Marítima, for approximately $94 million. The transaction, approved by Marsa Maroc’s board of directors on November 19, 2025, is pending regulatory clearance.
The acquisition is executed through Marsa Maroc International Logistics (MMIL), the company’s wholly-owned subsidiary responsible for international expansion. The deal grants Marsa Maroc access to BMT’s network of nine terminals across the Iberian Peninsula and the Canary Islands, including major ports such as Las Palmas, Tenerife, Cadiz, Seville, and Santander. In 2024, BMT handled over one million twenty-foot equivalent units (TEUs), playing a central role in maritime flows connecting mainland Spain to the Atlantic archipelagos and beyond. The terminals also link to 11 international shipping routes operated by Boluda Lines, connecting Europe, West Africa, the Canary Islands, the Balearics, and Cape Verde.
Strategic importance for Morocco–Spain trade
The partnership is expected to strengthen the Morocco–Spain maritime corridor, a key trade axis across the Strait of Gibraltar. Spain is Morocco’s largest trading partner, and the European Union accounts for approximately 65% of Moroccan foreign trade. By combining operational expertise and complementary capabilities, Marsa Maroc and Boluda Corporación Marítima aim to enhance logistical efficiency, expand maritime routes, and provide Moroccan exporters with better access to European markets.
The acquisition also opens new opportunities for Moroccan exports through improved connectivity between major Moroccan ports—such as Nador West Med, Casablanca, Agadir, Laâyoune, and Dakhla—and Spanish ports, including Cadiz, Sagunto, and the Canary Islands. Analysts note that such partnerships are critical in diversifying trade flows, reducing bottlenecks, and supporting Morocco’s broader economic objectives.
Regional expansion and strategic ambitions
For Marsa Maroc, the deal represents a significant milestone in its international growth strategy. The company now operates 34 terminals across 20 ports, up from 25 terminals in 11 ports, reinforcing its presence on both sides of the Strait of Gibraltar. This expansion aligns with the group’s “Marsa 2030” strategic plan, which aims to consolidate Morocco’s role as a leading logistics and port hub in Africa and globally.
Earlier in 2025, Marsa Maroc announced plans to expand into West and East Africa, including two terminals at Cotonou port in Benin and an oil and gas terminal at Damerjoud port in Djibouti. Combined with the BMT acquisition, these moves highlight Marsa Maroc’s ambition to become a pivotal player in the shipping corridors linking Europe and Africa, offering integrated solutions for both cargo and maritime services.
Operational synergies and international cooperation
Industry observers highlight that the transaction enables operational and industrial synergies between Marsa Maroc and Boluda Corporación Marítima. By leveraging their complementary strengths in port terminal management, both companies can optimize handling capacity, improve service quality, and expand their footprint across strategic international routes. This partnership builds on a previous collaboration in towing operations at Nador West Med port, underscoring the longstanding operational alignment between the two groups.
BMT’s terminals have historically been central to flows between Spain and the Canary Islands, processing over one million TEUs in 2024. With Marsa Maroc’s participation, these terminals are expected to serve as a gateway for enhanced Moroccan trade with Europe, while also supporting growth in transatlantic and African trade routes.
The Marsa Maroc–Boluda Maritime Terminals partnership represents a landmark deal in North African port operations. It reinforces Morocco’s strategic positioning as a logistics hub connecting Europe, Africa, and international maritime corridors. By combining operational expertise, expanding terminal networks, and strengthening trade connectivity, Marsa Maroc is poised to enhance its regional influence, deliver integrated solutions for exporters, and solidify its reputation as a leading global port operator.
