The Portuguese Competition Authority (AdC) has officially prohibited the proposed acquisition of Remolcanosa Portugal by the Boluda Group, citing grave concerns over the future of market competition. The decision, finalized in May 2026, follows an exhaustive in-depth investigation that began in late 2025. The AdC determined that the merger would significantly impede effective competition, particularly within the specialized markets for port maritime towage and mooring services in Portugal’s Atlantic gateways.
A primary focal point of the investigation was the Port of Sines, a critical hub for international trade. The Authority found that for vessels not carrying bulk dangerous goods, the two companies represented the only effective competitors in the region. By allowing the Boluda Group to absorb Remolcanosa, the market would have transitioned from an asymmetric duopoly into a total monopoly. Given the high barriers to entry for new maritime firms and the mandatory nature of towage services for port safety, the AdC concluded that the merged entity would have the unchecked ability and incentive to raise prices for port users on a lasting basis.
Throughout the proceedings, the Boluda Group attempted to mitigate these antitrust concerns by submitting two separate packages of commitments. However, after a detailed assessment, the AdC rejected these remedies, finding them neither suitable nor sufficient to guarantee a competitive environment. The Authority noted that the proposed commitments carried significant risks regarding their actual feasibility and long-term effectiveness in preventing market dominance.
In a final attempt to justify the merger, the notifying parties pointed to upcoming changes at the Port of Sines, including the expiration of current concessions and the announcement of a new tender procedure. The AdC dismissed these arguments, labeling them as uncertain scenarios that offered no immediate relief to the competition risks identified. Lacking any viable solutions to protect the market from monopolization, the Authority exercised its power to block the transaction entirely, ensuring that the maritime towage sector remains open to multiple operators.
