Clearance Application by Boluda Towage Australia B.V. for the Proposed Acquisition of Smit Lamnalco Towage PNG Ltd and Smit Lamnalco Projects Pte Ltd (PNG Branch)
The Independent Consumer and Competition Commission (“ICCC”) wishes to inform the general public and relevant stakeholders that it has commenced public consultations on a Clearance Application (“Application”) submitted by Boluda Towage Australia B.V. (“Boluda Australia” or “Applicant”), for its proposal to acquire Smit Lamnalco Projects Pte Ltd (PNG Branch) (“SLP”) and Smit Lamnalco Towage PNG Ltd (“SLT”) (SLP and SLT together “Target Companies”) (the “Proposed Acquisition”).
Initially, BT Luxembourg II, S.á.r.l (“Boluda”), the Applicant’s parent company applied for Clearance on 05th August 2025 to acquire the Target Companies. After reviewing the transaction, including all available market information and submissions from stakeholders, the ICCC gave Clearance to Boluda to proceed with the transaction on 01st September 2025 as the Proposed Acquisition would not substantially lessen competition in any markets in PNG. However, whilst the new Application involves the same Target Companies, Boluda proposed to transfer its rights and obligations of the transaction to its newly created subsidiary, Boluda Australia, following the amendment to its initial Sale and Purchase Agreement. Therefore, this consultation relates to the new iteration of the Proposed Acquisition.
SLP and SLT are foreign companies registered in PNG. SLP provides terminal services to the PNG LNG Project, primarily towing, berthing, unberthing, and mooring services. Whereas SLT provides tug boat services, on charter, to SLP for its operations in PNG.
On the other hand, Boluda Australia is incorporated in the Netherlands and is part of the Boluda Group, a global company that provides marine terminal services, including harbor towage on a worldwide scale. It does not currently have any operations in PNG.
As part of the public consultation process, the ICCC now invites submissions and comments from all stakeholders or interested individuals on any potential competition effects the Proposed Acquisition may have on any market (s) in PNG.
All submissions provided to the ICCC will be treated as public information unless the submitter requests confidentiality over certain part(s) of its comments or submission. All confidentiality requests will be assessed in accordance with Section 131 of the ICCC Act.
All comments and submissions should be addressed to Mr. Roy Daggy, Commissioner and Chief Executive Officer, at the address provided below and must reach the ICCC by or before 02nd December 2025.
The Application, including details of the Proposed Acquisition, can be accessed and downloaded from the ICCC website: www.iccc.gov.pg or emailed upon request
All queries relating to this matter should be directed to Mr. Steven Sugl, Executive Manager – Competition Law Enforcement Division on telephone 312 4600 or e-mail to: ssugl@iccc.gov.pg.
2025Nov21 PN_Boluda Australia prop acq of SLP and SLT
November 2025