Navalrocha Shipyard Reports Results
Navalrocha Shipyard reported growth in key target markets, including LPG and Product Carriers, after recording one of its strongest ever half-year performances.
With more than 30 projects delivered to date, Navalrocha is on course for another record-breaking year having completed projects with wide variety of commercial ships. In particular, the Lisbon yard is ramping up activity to support Iberia’s growing offshore renewables sector having serviced a range of Offshore Support Vessels for market leaders including Fugro and Boskalis.
Navalrocha continues to position itself as an ‘LPG repair hub’ supporting north Atlantic and Mediterranean shipping routes. Steady progress in 2024 has seen five LPG repair contracts, in addition to several Bunker Tanker and Chemical Carrier projects.
Earlier this year, the yard welcomed longstanding Greek client MM Marine back to the yard to deliver repair packages for Bunker Tankers NAXOS II and KERKYRA, as part of a strong relationship with agent Resolute Maritime Services. This was followed by a series of projects with longstanding Singapore client BW EPIC Kosan to deliver repairs to three LPG Tankers - EPIC ST. THOMAS, EPIC ST. CROIX and EPIC CURAÇAO. Further progress in the LPG market involved repairs to LPG Tanker CGAS JUPITER owned by Christiania Holding A/S. Navalrocha’s ever-increasing reputation in the product carrier market further benefited from a project to support Maltese-flagged Oil/ Chemical Tanker BOMAR CERES, owned by Borealis Denizcilik, following a deal with agent OKT Shipping.
Expansion in the LPG and Product Carrier market has been mirrored by activity in the military sector, with Navalrocha now servicing around 10% of the Portuguese Naval Fleet. In 2024, a notable project involved repair work to the NRP Sagres – which serves as a training ship for naval cadets. The distinctive steel-built three masted barque, with square sails on the fore and main masts and gaff rigging on the mizzen mast.
Navalrocha has also enjoyed growth in the General Cargo market supporting a range of European clients. This includes work to Azorean vessel FURNAS owned by Mutulista Açoreana, the Barbados-flagged WILSON CLYDE owned by Wilson Ship Management AS, the CELTIC EXPLORER owned by Charles M Willie & Co Shipping in the UK, and the ATLANTIC EXPRESS owned by Rohden Bereederung from Germany. It also supported the JAIME S (ex-ORION) Container Ship owned by Steer Mar Ship Management in addition to Rhode Nielsen’s Hopper Dredger Vessel VIKING.
Meanwhile, the yard continues to drive expansion in the Passenger, Cruise and Pleasure Boat market with a number of standout projects in recent months including the HANSEBLICK Inland Passenger Ship, the SÃO JORGE Passenger Ferry as well as Grand Circle’s Cruise Vessel CLIO. Navalrocha also saw a return of the Yacht-style Cruise Ship SEADREAM I operated by SeaDream Yacht Club alongside Explorers-class Cruise Ship LE CHAMPLAIN operated by Ponant.