Dutch towage and dredging outfit Boskalis is to take full ownership of Smit Lamnalco.

Boskalis and Rezayat Group, a Saudi industrial group, currently own Smit Lamnalco in a 50/50 joint venture arrangement, which has existed for nearly 60 years.

Smit Lamnalco lists 160 vessels on its website, consisting of tugs, offshore vessels and crew boats.

Rezayat and Boskalis originally formed Lamnalco in 1965.