AD Ports Group Expands European Presence with Acquisition of Astilleros Balenciaga Shipyard
AD Ports Group has made a significant move into the European shipbuilding sector by acquiring Spain’s Astilleros Balenciaga shipyard for €11.2 million ($13.1 million). This strategic acquisition, announced by the Abu Dhabi-listed group, enhances its capabilities in constructing offshore wind support vessels. The deal was finalized through Safeen Drydocks, a subsidiary of Noatum Maritime, which now holds 100% ownership of the Basque-based shipyard.
The acquisition of Balenciaga Shipyard marks a pivotal step for AD Ports, allowing it to broaden its operational footprint across the Mediterranean. With nearly a century of experience in shipbuilding and repair, Balenciaga is well-equipped with two drydocks, a 105-meter slipway, and over 22,000 square meters of automated fabrication space. The facility also features a dedicated cutting and manufacturing unit, positioning it as a key player in the construction of complex vessels and prefabricated offshore structures.
Strategic Focus on Offshore Wind Support Vessels
AD Ports Group’s acquisition aligns with its strategic focus on expanding into higher-value maritime assets, particularly in the offshore wind sector. The company has identified offshore wind as a priority area for growth, especially following its recent partnership with Masdar to develop global offshore wind projects. The demand for Service Operation Vessels (SOVs) is projected to surge as offshore wind capacity increases, particularly in northern Europe.
Balenciaga Shipyard’s strategic location provides AD Ports with direct access to the North Sea and the broader European market, enhancing its competitive edge in securing newbuild and conversion projects related to wind farm operations. Ammar Al Shaiba, CEO of AD Ports Group’s Maritime & Shipping Cluster, emphasized that this acquisition will bolster the group’s technical capabilities and facilitate knowledge transfer across its drydocking and shipbuilding network.
Decarbonisation of shipping could create up to four million green jobs
Job Creation and Future Prospects
The acquisition is expected to yield significant economic benefits, including the creation of over 50 skilled jobs as operations at Balenciaga ramp up. The shipyard already has a pipeline of specialized vessel projects, which will not only support AD Ports’ fleet requirements but also cater to international partners.
AD Ports Group’s commitment to enhancing its maritime capabilities through this acquisition reflects its long-term vision for growth in the maritime sector. By integrating Balenciaga Shipyard into its operations, AD Ports aims to strengthen its position in the rapidly evolving offshore wind industry while contributing to the local economy through job creation and increased maritime activity.
