19th to 21st of May 2020

Metalships speed up its extension to repair 200 meters long vessels

The company needs Financing to buy a dry dock able to careen vessels up to 230 meters The shipyard from Vigo Metalships, belonging to Rodman Group, is ending the purchase of a third floating dry dock able to careen 230 meters long vessels. The purchase is part of the extension plans of this company, which aspires to gain the naval repair business of the vessels from the Ría, as the ones that transport vehicles and pieces for PSA Peugeot Citroën and other brands, as well as the merchant ships that reach port in Guixar. The foreseen investment by the shipyard in the floating dry dock and its installations is 30 millions, so a guarantee of around 20 is needed.
Metalships wants to boost the naval repair segment - in which it works since 25 years ago - faced to the difficulties that the shipbuilding sector is leaving due to the shortage of orders. Nowadays, this company has two floating dry docks of 5.000 and 10.000 tones, able to careen up to 160 meter long vessels.
Nevertheless, the most vessels from the Vigo's Ria exceed 200 meters long, as the ones built by Galician shipyards, that usually careen in Portugal, Ferrol, Santander and Holland; as the ones that reach port periodically: carriers and ro-ro that transport cars and pieces, and the merchant ships.
Just in the case of the first ones, between January 2003 and June 2007 480 vessels reach the port of Vigo out of the capacity of Metalships. Also the merchant ships that transport containers and unload in Guixar (between 160 and 266 meters long), the ones specialized in granite transport (between 180 and 200 meters), and the ones dedicated to transport refrigerated goods, as fruit.
According an internal report of the shipyard, just with the vessels built in Vigo (ferries and off-shore over all), the ones that carry the transport for PSA Peugeot Citroën and the free vessels that they can gain in the international market, it will be enough for the new dry dock, that could reach a turnover of 18 millions Euros per year.
The problem for the shipyard is the shortage of financing. The company extension, that includes the dry dock purchase and the building of a 230 meter long pier will suppose and investment of 30 millions Euros. In the Metalships plans is also the extension of the armament pier in 40 meters, apart from other improvements and fitting-outs.
Regarding the purchase of the panamax dock of 22.000 tones, the first company option is to order its building to the Galician shipyards Navantia. Metalships considered the possibility of buying a second hand dock or order it to foreign shipyards, but the Galician choice is the one with more possibilities now.
The report shows that for this investment of 30 millions Euros, guarantees of 20 millions will be needed. Metalships that will meet soon with managers from the Regional Government trust to count again with the support of the Regional Ministry of Industry and IGAPE to carry out the project, which would consolidate the company as repair centre. (Source: FARO DE VIGO)

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