AD Ports Group, based in Abu Dhabi, is looking to grow its presence in Europe and enhance its offshore wind capabilities by purchasing one of Spain’s most advanced shipyards.
Through its subsidiary, SAFEEN Drydocks, which is part of Noatum Maritime, the company has acquired 100% of Balenciaga Astilleros for €11.2 million. Announced on January 20, this deal allows AD Ports Group to meet the increasing need for specialized vessels in Europe’s offshore wind industry.
Located in Spain's Basque region, this nearly 100-year-old shipyard adds significant industrial strength to the group. It features two drydocks, a 105-meter slipway, and over 22,000 square meters of factory space, all equipped with modern automation and fabrication technology. Now known as Balenciaga Shipyard, it is one of the few yards in Spain that can build advanced Service Operation Vessels (SOVs)—floating platforms that assist in the construction and maintenance of offshore wind farms.
“This acquisition reflects our goal of strategic international expansion and diversifying our portfolio,” said Captain Ammar Al Shaiba, CEO of the Maritime & Shipping Cluster at AD Ports Group. “The expertise of Balenciaga Shipyard in advanced vessel construction, especially for the offshore wind sector, will help us achieve our goals and promote knowledge sharing and best practices within SAFEEN Drydocks.”
The timing of this purchase is significant, as global demand for SOVs is increasing due to the growth of offshore wind projects in European waters. The shipyard's proximity to the North Sea makes it well-positioned to serve that market while also supporting AD Ports Group’s broader strategy for clean energy transition.
This acquisition also builds on AD Ports Group's recent partnership with Masdar focused on offshore wind development. In addition to SOVs, Balenciaga Shipyard is experienced in building research vessels, offshore support vessels, and specialized tugs; it also specializes in the structural prefabrication of large offshore modules.
Al Shaiba mentioned that this acquisition would benefit the region by enhancing the group’s clean-energy capabilities and creating high-value jobs in Europe. More than 50 skilled positions are expected to be created, driven by an existing pipeline of specialized vessel projects and anticipated work from SAFEEN Drydocks and AD Ports Group’s international network.
The shipyard is also expected to help meet AD Ports Group's own fleet requirements as the company expands its operations throughout the Mediterranean and beyond.