19th to 21st of May 2020

Spanish shipping companies invest 1,300 million in fleet renewal

The average age becomes 12.6 years, compared to the world of 18.7. The Spanish shipping companies have invested in 2010-2011 around 1,300 million Euros in the renovation of the fleet with national pavilion, an important effort due the general economic crisis situation that affects companies of almost all sectors.
This substantial expenditure, divided in about 1.045 million in 2010 and another 300 million Euros in this year, has led, moreover, a significant rejuvenation of the average age of the Spanish fleet, all of it registered in the "Special Canary Islands Register" (REC) - nowadays composed by about 150 vessels of all types.
With this level of investment, the average age is 12.6 years, with a significant decrease compared to 13.1 years from the end of 2009 and significantly lower that the world average of 18.7 years. Spain is ranked 23 in a country flag fleet world ranking, Which is led by Panama, followed by Liberia and Marshall Islands. In the EU, the leadership is for the Netherlands, followed by France and Belgium.
The National Association of Ship-owners of Spain (Anave), leaded by Adolfo Utor, of the European Ship owners' Association, who leads the Spanish Juan Riva (Suardíaz Group), and of the Management Naval Sector (Ministry of Industry), the ten new vessels are ferries, cement vessels, for gas transporting LNG, for rolling loads (ro-ro) and petroleum product tankers.
Shipbuilding
Two of these ten new units (Teide Volcano and Volcano Tinamar, both of 195 meters in length) were built in private shipyards Galicia, specifically in Vigo, in Hijos de J. Barreras shipyard. At this time, the private shipbuilding industry goes through an order crisis, by combining in the critical decline in the order books and the recruitment problems from the temporary cessation of the tax credit instrument called tax lease.

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