Spanish shipping giant pushes back over €80 million Morocco deal
A Spanish shipping giant wants part of a university study on Morocco’s port ambitions withdrawn. At issue is its planned €80 million alliance with Marsa Maroc, which has drawn sharp criticism in the Canary Islands. The request has sparked controversy in Spain’s maritime sector.
Boluda Group has hit back following the publication of a report by the University of Las Palmas de Gran Canaria on the future of the archipelago’s ports. The company has asked for an appendix questioning its partnership with Morocco’s Marsa Maroc to be withdrawn. It denounces “unfounded speculation” and a lack of rigor in the analysis, Spanish media outlet Atlántico Hoy reports.
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The agreement at the center of the controversy provides for Marsa Maroc to acquire a 45% stake in Boluda Maritime Terminals, a subsidiary of the Spanish group, for 80 million euros. The deal would give the Moroccan state-owned company a stake in several Spanish terminals, including five in the Canary Islands. Boluda would retain the remaining 55% and control of the company.
The report’s authors are concerned about the possible consequences of the partnership for the Canary Islands’ ports. In particular, they fear some maritime activities could shift to Morocco, as the Kingdom develops its port infrastructure, including the future Dakhla Atlantic Port. Antonio Morales, president of the island government of Gran Canaria, shares these concerns.
Academic willing to revise her report
Boluda rejects this analysis. The group believes that a Moroccan minority shareholder would not have the power to decide maritime routes unilaterally or divert cargo to the Kingdom’s ports. Its representatives challenged the document when it was presented and called for the passages about their partnership to be removed.
Lourdes Trujillo, professor of economics and coordinator of the study, confirmed that Boluda had contacted her. She said the company had asked her to withdraw the appendix but had not demanded that she do so. Speaking to Atlántico Hoy, she acknowledged that the section on the commercial relationships of several companies could have been presented differently. She said she was willing to revise or remove it.
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Boluda’s intervention has itself drawn criticism. In an article published on 19 October, Canary Maritime reports the anger of port professionals who denounce a private company’s pressure on academic work. Antonio Morales, for his part, has defended the independence of researchers.
The dispute comes as the Moroccan investment is still awaiting approval from Spanish authorities. Signed in December 2025, the agreement between Marsa Maroc and Boluda remains under review in Madrid, amid political opposition in the Canary Islands.
