Navantia waits for EU to lift its cap
Navantia bides its time, waiting for EU rules to favour its return to building commercial vessels.
S
panish state-owned shipbuilder Navantia has maintained its position as a leader in global naval construction but, for now at least, its options in the civilian sector remain limited. The European Union (EU) said earlier this year that it would
not review a 2005 agreement with the Spanish government under which Navantia would limit civilian construction to 20% of its overall business until 2014. Te agreement was part of a deal that allowed Madrid to
salvage what it could from Navantia’s troubled predecessor Izar, which ran foul of state aid rules and collapsed. Since its restructure, Navantia has focused on defence work
and has not reached the 20% limit. Ramón Iribarren, Navantia’s new director for coordination,
“The year 2014 is not far away and we must start thinking about that change”
told reporters in Spain recently that the company would begin considering its options once the EU cap was liſted. “Te year 2014 is not far away and we must start thinking
about that change,” he said. Navantia’s yards are performing well and are operating at
nearly full capacity, with contracts from the Spanish navy and five other navies. Vessels under construction range from frigates to submarines
and the company boasts a wide range of well-proven designs. In September it delivered the fourth frigate in a five-ship series
ordered by Norway a decade ago. Officials are bullish about the prospects for new contracts,
including from existing customers Norway and Australia as well as from Latin American and African governments. Even so, the state owned company ended 2008 with losses of
€55.8million despite having returned positive results in 2007. Officials also expect to end this year in the red. Perhaps ironically, the Sociedad estatal de Participiciones
Industriales (SEPI), the state industrial holding company that owns Navantia, said the losses arose as a result of Navantia’s civilian construction activity. Navantia was building two ro-ro ferries for Spanish owner
Trasmediterranea but the second ship was cancelled, while the first suffered from overrunning costs and labour strife. NA
The Naval Architect November 2009 37
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