Abu Dhabi Ports Acquires Spanish Shipyard Serving Offshore Wind for EUR 11.2 Million

SAFEEN Drydocks, part of Noatum Maritime and a subsidiary of Abu Dhabi Ports (AD Ports) Group, has acquired full ownership of Astilleros Balenciaga Shipyard in Spain for a total consideration of EUR 11.2 million.

The shipyard, which will be known as Balenciaga Shipyard going forward, has delivered a number of offshore wind vessels over the past several years, including Edda Wind’s new service operations vessels (SOVs).

AD Ports announced the acquisition shortly after entering into a partnership with Masdar to collaborate on the development and delivery of offshore wind projects. 

“With demand for specialised 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”, AD Ports said on 20 January.

The new owner also said the acquisition is expected to create more than 50 skilled roles to support a robust pipeline of specialised 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.

“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 Captain Ammar Al Shaiba, CEO – Maritime & Shipping Cluster, AD Ports Group.

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