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Balenciaga Shipyard is entering a new phase with the keel of its first ship, after leaving behind the threat of closure

The event represents the rebirth of Zumaia's historic shipyard after the creditor competition.

Instalaciones de Astilleros Balenciaga en Zumaia
Image of the Balenciaga shipyard in Zumaia. Photo: Europa Press

Balenciaga Shipyard is hosting this Thursday's event symbolizing the rebirth of the historic Zumaia shipyard after overcoming the creditor competition and joining the Safeen Drydocks of the Emirati group AD Ports.

The placement of the keel, considered one of the most important milestones in the shipbuilding industry, officially marks the beginning of the assembly of the hull of a ship and formally initiates its construction. In this case, moreover, the event marks the beginning of a new industrial era in one of the most traditional shipyards in the Basque shipbuilding sector.

Opening ceremony

The event will be attended by Mikel Jauregi, Counsellor for Industry, Energy Transition and Sustainability of the Basque Government; Nelson MacKie, CEO of Safeen Drydocks; and Santiago Bardal, CEO of Balenciaga Shipyard, along with institutional representatives, supplier companies and shipyard workers.

A tour of the facilities is also planned to learn about the progress of the first ongoing projects.

11.2 million sales

The shipyard managed to avoid bankruptcy at the end of last year for EUR 11.2 million, sold to the Arab consortium led by Abu Dhabi Ports, an operation that ended months of uncertainty for workers and the region.

The activity resumed on 12 January, and since then, the new management has made efforts to reorganize production and implement orders already contracted.

The new phase began with at least two ships in pod, which allowed immediate recovery of activity and enhanced the chances of restoring the shipyard's industrial capacity with the support of AD Ports Group.

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