AD Ports, the UAE’s national port and logistics operator, announced the acquisition of 100% of the shares in the Spanish shipbuilding and repair yard Balenciaga Astilleros. According to the company’s official announcement, the transaction value was €11.2 million. Following the completion of the transaction, the yard will be renamed Balenciaga Shipyard.
The yard’s production facility includes two dry docks designed for vessels up to 100 meters in length, a 105-meter slipway, as well as production and assembly workshops. Balenciaga Shipyard specializes in the construction of vessels for offshore wind projects, modules for the offshore industry, tugboats, and research vessels.
The acquirer was SAFEEN Drydocks, a shipbuilding subsidiary of AD Ports founded in 2023. AD Ports owns a controlling stake in SAFEEN Drydocks, while 49% of the company is owned by Dubai-based private shipbuilder Premier Marine. SAFEEN Drydocks’ main production facility is located in Khalifa Port.