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ruben.maritime

The first web2.0 spanish blog about Maritime Affairs. El primer blog web2.0 español sobre el sector marítimo.

Tapias pounces on Navigasa

LA CORUNA 17 November – Spanish operator Grupo Tapias has brought a 42.5% stake in Galician owner Naviera de Galicia (Navigasa) for an undisclosed sum. The move marks the launch of a €100M ($127.6M) four-year investment plan. Until now, Navigasa has operated in coastal trades but it is now planning to expand into the gas and chemicals sectors both along the Spanish coast and overseas. Navigasa has declined to provide details of its plan and would neither confirm nor deny that it is seeking to enter the LNG market. The company has also expressed an interest in purchasing shares in the state-owned Fene yard, run by Navantia. The shareholder shake-up at Navigasa marks the return of Grupo Tapias to maritime business. In March 2004, Tapias sold its petroleum and gas tanker owner Naviera F Tapias to Teekay Shipping for $810M. Navigasa currently has €23M orders for two multi-purpose cargo ships at Armón de Vigo yard in Galicia.

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