Abu Dhabi Ports Group, via its subsidiary SAFEEN Drydocks, has acquired full ownership of Balenciaga Astilleros Shipyard in Spain for a total consideration of $13.1, consolidating the group’s operations in Spain and the Mediterranean and supporting its expansion in the offshore wind sector.
SAFEEN Drydocks, part of Noatum Maritime, acquired the Basque-region shipyard, which will be renamed Balenciaga Shipyard, adding nearly a century of shipbuilding experience and advanced infrastructure to AD Ports Group’s portfolio.
The facility includes two drydocks, a 105-metre slipway, and manufacturing and fabrication facilities spanning more than 25,000 square meters.
Balenciaga Shipyard is recognized for structural prefabrication of large modules for offshore projects and for building complex vessels, including Service Operation Vessels (SOVs) used as floating bases for offshore wind farms, as well as research vessels, offshore support vessels and specialized tugs.
The acquisition complements AD Ports Group’s recently announced partnership with Masdar to collaborate on offshore wind projects and positions the group to benefit from rising demand for specialized offshore wind vessels, supported by the shipyard’s proximity to the North Sea and European markets.
AD Ports Group said the deal is expected to create more than 50 skilled jobs and support an existing pipeline of specialized vessel projects, alongside work for SAFEEN Drydocks, international partners and the group’s own fleet requirements.
“This acquisition is a testament to our strategy of targeted international expansion and portfolio diversification. Balenciaga Shipyard’s expertise in advanced vessel construction, particularly for the offshore wind sector, will enable us to further our ambitions while facilitating knowledge transfer and best practice adoption across SAFEEN Drydocks.
“Integrating one of Spain’s most advanced shipyards into our portfolio strengthens our capabilities to support the global clean energy transition while contributing to the creation of high-value jobs and economic opportunity in key markets,” said Ammar Al Shaiba, CEO – Maritime & Shipping Cluster at AD Ports Group.
Subscribe
