SEPI Sociedad Estatal de Participaciones Industriales

NAVANTIA begins the construction of the blocks for the 4 Suezmax oil tankers in Ferrol

18 July 2016 | Madrid

NAVANTIA begins the construction of the blocks for the 4 Suezmax oil tankers in Ferrol

NAVANTIA has begun today in Ferrol the construction of the blocks assigned to the 4 Suezmax class oil tankers for the Ibaizábal group, ships which are under construction at the Puerto Real shipyard since December 2015. The first plates for this work are being received at the shipyard since Thursday.

The work which will be carried out in Ferrol consists in the construction of the Modular Lower Bow Unit (80A) and the Funnel/Engine Casing Module (91A) for each of the ships.

It is envisaged that the order will entail for the Ferrol Inlet a 20-month workload, and at peak times the number of jobs will reach 200 employees.

The first two ships will join Cepsa’s fleet, under the time charter mode. The construction of the ships takes place within the framework of the agreement which Cepsa signed with Ibaizábal for renewing its fleet, incorporating the most advanced optimizations, both in terms of energy efficiency and for load transport and safety.

A competitive business model

The ships are being built in Spain at the international market price for this kind of ships, providing stability to NAVANTIA’s workload, promoting job creation, and the domestic industry.

The contracts mean the Company’s profitable return to oil tanker construction after a very long time without building this type of ships. The orders were won thanks to the offer of a very competitive product, as a result of an agreement reached with DSEC, Daewoo’s engineering company.

DSEC supplies its experience in the construction of this kind of ships, with a highly consolidated design, preventing the risks attached to the start of a new project. The agreement includes all the design and its logistical and supply chain, although always offering the opportunity and priority to the domestic companies which offer competitive prices.

About NAVANTIA

NAVANTIA constitutes a world reference in the design, construction and integration of warships with a high-technological content, as well as ship repairs and upgrades. Besides, its activity lines include the design and manufacturing of combat and command and control systems, integrated platform management systems, firing control systems, propulsion engines and the Life Cycle Support for all its products. Although its main activity is in the naval field, NAVANTIA also designs and manufactures systems for the Army and the Air Force.

NAVANTIA belongs to  Grupo SEPI, a corporate holding which includes a total of 16 state-owned companies in which it has direct, majority shareholding participations, with a workforce of around 73,000 professionals in 2014; the Spanish state-owned television and radio corporation, Corporación Radiotelevisión Española, which is attached to SEPI, and one public foundation. Equally, SEPI has direct minority shareholdings in a further ten companies, and indirect shareholdings in more than one hundred companies.