AD Ports Group’s subsidiary SAFEEN Drydocks, part of Noatum Maritime, has acquired 100 percent ownership of Balenciaga Astilleros Shipyard, one of Spain’s most established and technologically advanced shipbuilding and repair facilities.
The transaction, for a total consideration of $13.05 million (EUR 11.2 million), further consolidates AD Ports Group’s operations in Spain and in the Mediterranean region and complements its growing operations in the offshore wind sector.
Strategic hub at Balenciaga Shipyard
Located in Spain’s Basque region, the Balenciaga Shipyard brings nearly a century of shipbuilding expertise supported by state-of-the-art infrastructure.
Facilities include two drydocks, a 105-metre slipway, and an advanced, highly automated fabrication plant covering 22,385m², alongside a 3,530m² cutting and manufacturing facility.
The shipyard is a recognized leader in large-scale structural prefabrication for offshore projects and the construction of complex, high-specification vessels. It is among the few shipyards in Spain specializing in advanced Service Operation Vessels (SOVs) for offshore wind farms, as well as research vessels, offshore support vessels, and specialized tugs.
Crucially, the investment reinforces AD Ports Group’s growing contribution to the global offshore wind market, complementing its recently announced partnership with Masdar to collaborate on the development and delivery of offshore wind projects.
Captain Ammar Mubarak Al Shaiba CEO – Maritime and Shipping Cluster AD Ports Group
“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.”
With demand for specialized SOVs, projected to rise significantly in the coming years, Balenciaga Shipyard’s proximity to the North Sea and wider European markets positions it to play an important role in meeting this demand while supporting the Group’s strategy to develop advanced offshore wind capabilities.
The acquisition of Balenciaga shipyard is also expected to bring economic benefits to the region through the creation of more than 50 skilled roles, to support a robust pipeline of specialized vessel projects already in place, in addition to projects through SAFEEN Drydocks and AD Ports Group’s international partners and to contribute to AD Ports Group’s own fleet requirements.
