Having been the subject of much speculation in terms of selling MB92 during the recent spate of infrastructure acquisitions, it transpires that Squircle is now committed to the long-term success of MB92 and sees significant growth opportunities.

Over the past few months, since Squircle secured 100 per cent ownership of MB92, the most recent announcement reinforces the plan for the future. Having renegotiated a significant 10-year extension of the shipyard concession with the Port of Barcelona, through to 2050 and further discussions to push this beyond 2055, it would appear that MB92 Barcelona is not only in good hands, it is also in great shape, with stable, high-quality management and a very healthy refit order book.

As part of the concession extension, there has been a further commitment of financial investment, with more than 40 million euros committed to significant upgrades to the existing infrastructure and an expansion of the shipyard area by another 4,000 sqm. In addition to lifting capacity, with a new 680-tonne telescopic Travelift and the refurbishment and future-proofing of their 220-metre dry-dock, there will be focus on safeguarding the shipyard in terms of water usage and sound protection for the local community. New wastewater treatment and collection systems will reduce the expanded shipyard’s impact and demand on local water resources, something that is under pressure across the Mediterranean shipyard and marina network.

Noise pollution for a shipyard like MB92, located in the heart of a major city, is a critical part of their relationship with the community, especially with public beaches, residences and sports complexes on their doorstep, so part of the investment will study the implementation of an acoustic barrier to reduce noise transfer, especially close to the location of the luxury W Barcelona hotel.

With the refit and rebuild sector forecast to keep expanding, and demand for higher-quality facilities continuously growing, it is easy to understand the need for this strategic investment at one of the leading refit hubs in the market. With asset values across the new-build sector consistently reaching nine-figure sums, the service and support required has become big business and needs to match the technical quality of the new build yards.

What is more interesting, and perhaps even more reassuring, is that MB92 seems to be no longer the subject of speculation in terms of transfer of ownership. As John Nery, Managing Partner at Squircle Capital, confirms, “We are more committed than ever, business is flying, our management are the best in the industry and there are growth opportunities everywhere!”

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