AD Ports Group said its subsidiary Safeen Drydocks, part of Noatum Maritime, has acquired 100pct of Balenciaga Astilleros Shipyard in Spain for EUR 11.2 mln (USD 13 mln).
The deal strengthens AD Ports Group’s footprint in Spain and the wider Mediterranean and supports its expansion into the offshore wind sector. Located in Spain’s Basque region, the facility, now to operate as Balenciaga Shipyard, brings nearly a century of shipbuilding expertise and modern infrastructure, including two dry docks, a 105-metre slipway and automated fabrication facilities.
Balenciaga is known for structural prefabrication of large offshore modules and the construction of complex vessels. It is among a small number of Spanish yards specializing in Service Operation Vessels (SOVs) for offshore wind farms, as well as research vessels, offshore support vessels and specialized tugs.
AD Ports Group said the acquisition complements its recent partnership with Masdar on offshore wind projects. With demand for SOVs expected to rise, the shipyard’s proximity to the North Sea and European markets positions it to support the Group’s strategy to build advanced offshore wind capabilities.
AD Ports Group operates an integrated trade and logistics ecosystem spanning ports, maritime services, logistics, economic cities and digital solutions, with operations across more than 50 countries.
1 USD / 0.85 EUR
