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Spanish shipbuilding resists Covid-19 impact and recovers its activity

Pymar publishes the shipbuilding Annual Activity Report

At the end of last year, Spanish shipbuilding ranked second in the European Union with more units ordered and delivered, and also leading "markets of high constructive complexity and technological sophistication" such as fishing large ships, placing itself as the second world power and the first one in the European Union in segments such as oceanographic vessels, according to the Shipbuilding Annual Activity Report developed by Pymar, the company that groups together the main private shipyards in Spain.

"Spain is specialized in custom ship constructions with a high technological component and environmental sustainability, standing out among the most advanced countries in the world," said yesterday Almudena López del Pozo, Pymar’s CEO.

Over the second quarter of the year, COVID-19 health crisis has represented a major challenge for shipyards production plans, particularly due to people and supplies movement restrictions in projects, most of them international. Despite this, Almudena López del Pozo valued that “Spanish private shipyards, with the workers combined effort, are knowing how to bravely overcome COVID-19 effects, guaranteeing maximum security measures and the gradual recovery of activity in its facilities”.

Almudena López del Pozo emphasized PYMAR’s role in many of these contracts, for its "active participation in obtaining and implementing necessary funding" and awarding financial guarantees "such as the Naval Guarantees Fund or the Financial Hedging Fund”. Additionally, she highlighted the relevant role of Pymar in the “essential public-private collaboration” and highlighted the indispensable institutional support from central and autonomous Administrations to the shipbuilding sector, “even in difficult times experienced as consequence of the health crisis caused by COVID-19 ”.

Pymar is the company that brings together the main Spanish private shipyards to protect shipbuilding interests in Spain and throughout Europe. It works in cooperation with the State Administration and autonomous communities. It has key instruments to improve and boost sector's competitiveness, such as the Shipbuilding Guarantees Fund, and provides technical, legal, and financial-fiscal advisory services to shipyards integrated in the company and to financial entities to helping to complete construction projects.

Source: Industrias Pesqueras

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