AD Ports Group acquires Spanish shipyard to boost offshore wind capabilities

AD Ports Group has expanded its European maritime footprint with the acquisition of Balenciaga Astilleros Shipyard in Spain, as it seeks to strengthen its capabilities in advanced shipbuilding, repair and offshore wind support.

The Group said its subsidiary SAFEEN Drydocks, part of Noatum Maritime, has acquired 100 per cent ownership of the shipyard for a total consideration of EUR11.2 million ($13.12 million).

The transaction consolidates AD Ports Group’s growing operations in Spain and the wider Mediterranean region, while complementing its expanding portfolio in the offshore wind sector.

Located in Spain’s Basque region, the facility will operate as Balenciaga Shipyard and brings almost a century of shipbuilding expertise into the Group’s portfolio. The site includes two drydocks, a 105-metre slipway and a factory equipped with advanced automation and fabrication technologies spanning 22,385 square metres, supported by a further 3,530 square metre cutting and manufacturing facility.

Deal enhances advanced vessel construction capacity

The shipyard is recognised for its capabilities in the structural prefabrication of large offshore modules and the construction of complex vessels. It is one of a limited number of shipyards in Spain specialising in the construction of advanced Service Operation Vessels, which serve as floating bases for offshore wind farms. The yard also builds research vessels, offshore support vessels and specialised tugs.

Captain Ammar Al Shaiba, CEO of the Maritime and Shipping Cluster at AD Ports Group, said: “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.”

The investment reinforces AD Ports Group’s growing contribution to the offshore wind market and follows its recently announced partnership with Masdar to collaborate on offshore wind project development and delivery. Demand for specialised Service Operation Vessels is expected to rise significantly in the coming years, and the shipyard’s proximity to the North Sea and wider European markets positions it to help meet this demand.

AD Ports Group said the acquisition is expected to create more than 50 skilled jobs in the region, supporting an existing pipeline of specialised vessel projects, alongside work generated through SAFEEN Drydocks, international partners and the Group’s own fleet requirements.