AD Ports Group reported that its subsidiary Noatum Maritime’s unit Safeen Drydocks has finalised the purchase of all shares in Astilleros Balenciaga for €11.2 million. The consideration is broadly equivalent to US$13.12 million. Following completion of the deal, the yard now operates under the name Balenciaga Shipyard. The transaction is in line with AD Ports Group’s strategy of concentrating on high-value maritime assets, with offshore wind power identified as a core development area.

Nearly a century of shipbuilding and repair experience underpins the capabilities of Balenciaga Shipyard in Spain’s Basque Country. The yard has built a wide range of technically demanding vessels and prefabricated offshore structures, and is counted among the limited number of Spanish facilities with established references for SOVs, research vessels, offshore support vessels, and specialised tugboats.

The site’s infrastructure is configured for complex projects. The yard operates two dry berths alongside a slipway of about 105 m in length, supported by more than 22,000 m² of workshops equipped for automated machining and production processes, as well as separate zones dedicated to cutting and fabrication work.

Growth in offshore wind power, especially in Northern Europe, is driving expectations of a sharp rise in demand for SOVs. Against this backdrop, Balenciaga Shipyard’s position in the Basque Country gives AD Ports Group a direct link to the North Sea and wider European markets, allowing the group to compete for new construction and vessel conversion work that supports offshore wind operations.

At present, Balenciaga Shipyard is working through a backlog of specialised shipbuilding contracts. As activity increases, more than 50 additional technical roles are expected to be created at the facility. Alongside projects for international customers, the yard will also handle construction and repair work required by the fleet operated by Abu Dhabi Ports Group.