Spanish offshore vessel builder Balenciaga acquired by AD Ports Group

In a statement, AD Ports Group said the €11.2M (US$13.1M) acquisition of the Spanish yard, a well-known builder of offshore support vessels (OSVs) for the oil and gas industry and service operation vessels (SOVs) for the offshore wind industry, would consolidate its operations in Spain and in the Mediterranean region and complement its growing business line in the offshore wind sector. 

Located in the Basque region of Spain, the shipyard, which will be known as Balenciaga Shipyard going forward, has nearly a century of shipbuilding expertise and infrastructure, including two drydocks, a 105-m slipway, and a factory equipped with advanced automation and fabrication technology, complemented by a 3,530-m² cutting and manufacturing facility. The yard is recognised as a leader in the structural prefabrication of large modules for offshore projects, and in constructing complex vessels such as OSVs and SOVs. Balenciaga is one of a few yards in Spain specialising in constructing advanced SOVs, and also builds research vessels, offshore support vessels, and tugs.

AD Ports Group chief executive maritime and shipping, Ammar Al Shaiba, 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 ability 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 role in the offshore wind market, complementing its recently announced partnership with Masdar to collaborate on the development and delivery of offshore wind projects. With demand for specialised SOVs expected to grow, Balenciaga Shipyard’s proximity to the North Sea and wider European markets makes it well-placed to play a role in meeting demand while supporting the group’s strategy to develop advanced offshore wind capabilities.