The Port of Las Palmas now has the certainty it was looking for to calm the waters after weeks of political turbulence. Vicente Boluda, president of the Boluda Group, was unequivocal during a visit to Las Palmas for a meeting of the Canary Islands Family Business Association (EFCA): the entry of the state giant Marsa Maroc into the shareholding of its terminals in Las Palmas and Tenerife is not a capitulation, but a ‘strategic alliance’ of ‘give and take’. Although the Moroccan company has disbursed 80 million euros to acquire 45% of the terminal subsidiary, the ‘control and management’ will remain fundamentally Canarian as the tax headquarters of the company will remain in the islands. The owner of Boluda Corporación Marítima stated that there will be no collateral damage among the dockworkers because the cost of labor in Las Palmas is derived from what the market is willing to pay, which is passed on to the end consumer ‘like VAT’. What some sectors interpreted in December as a loss of port sovereignty, Boluda redefines as an agreement that will allow the Spanish shipping company preferential access to the 11 ports and 25 terminals that Marsa Maroc manages in Africa. He said that for his company in the Port of Las Palmas (Terminal de La Luz), this means directly connecting with the main port operator on the neighboring continent, securing traffic at a time when competition with Moroccan ports is fiercer than ever. The operation has not been free of suspicions, especially as it occurred after the High Level Meeting (RAN) between Spain and Morocco and the new diplomatic scenario regarding the Sahara. In light of concerns from the Canary authorities about Morocco’s access to ‘sensitive information’ related to transportation in the archipelago, Boluda wanted to put the debate to rest by assuring that ‘there will be no problem’. Boluda’s network in the islands—Tenerife, La Palma, Lanzarote, Fuerteventura, and Gran Canaria—remains operationally fortified, while on the mainland the alliance extends to Santander, Seville, and Vilagarcía (excluding Cádiz). The president of the Port Authority, Beatriz Calzada (CC), has aligned with this thesis, maintaining calm in what she considers a natural business move in a globalized market; but not the president of Gran Canaria, Antonio Morales (NC). The key is that, despite the 45% Moroccan stake, critical decisions regarding investment and logistics will continue to be made at Boluda’s headquarters. Essentially, it is an injection of liquidity of 80 million euros for the Spanish group to compete for leadership in the Mid-Atlantic with renewed strength. Vicente Boluda has proven to be a master in the art of maritime realpolitik. By ceding capital while retaining the helm, he said that he has transformed a competitive threat into a capitalist partner. The success of this maneuver will be measured in the coming months: if the Port of Las Palmas manages to capture part of the growth from African ports due to this alliance, the operation will be remembered as the brightest move of the decade. Conversely, if Moroccan influence begins to condition Canary tariffs or routes, the port will have paid a very high price for those 80 million. News written by Pedro Marrero. Edited and verified by Gara Vega H. Cross-referenced information without institutional filters. This analysis has not been funded by official advertising nor conditioned by lobbying interests.
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