
SAFEEN Drydocks acquires Spanish shipyard Balenciaga
Part of AD Ports Group, Abu Dhabi-headquartered SAFEEN Drydocks has acquired full ownership of the Spanish shipbuilding and repair yard Balenciaga Astilleros for a total consideration of Euro 11.2 million. Located in Spain’s Basque region, the shipyard features two drydocks, a 105m long slipway, and a range of advanced manufacturing and metal cutting facilities.
Balenciaga Shipyard, as it will be known going forward, is a regional leader in the prefabrication of large offshore modules and the construction of complex vessels. Its portfolio includes advanced Service Operation Vessels (SOVs) that serve as floating bases for offshore wind farms, as well as research vessels, offshore support vessels and specialised tugs.
The acquisition reinforces AD Ports Group’s growing involvement in the global offshore wind sector and complements its recently announced partnership with Masdar to collaborate on the development and delivery of offshore wind projects. With demand for specialised SOVs expected to rise sharply in the coming years, Balenciaga Shipyard’s proximity to the North Sea and wider European markets positions it to play a key role in meeting this demand while supporting SAFEEN Drydocks’ strategy to develop advanced offshore wind construction capabilities.
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