Spain has relaxed its national shipbuilding financing support policy, allowing for adjustments to approved subsidy amounts for previously authorized new shipbuilding projects—provided the vessels have not yet been delivered—in cases where significant changes occur in the construction contracts or financing structures. This Royal Decree, effective September 4, 2026, addresses outstanding issues following the revision of Spain’s 2025 shipbuilding support framework.
Under the amended policy, shipbuilders may apply for adjustments based on the revised 2025 rules for projects that had already secured interest rate subsidy approvals under the previous system, provided the vessels have not yet been delivered to the owners. Newly submitted applications and existing projects currently awaiting approval are subject directly to the new rules.
The Spanish government stated that this revision does not add new approval processes or additional application materials, and emphasized that this is a “limited transitional remedy” aimed at ensuring that previously approved new shipbuilding projects enjoy the same policy treatment as other undelivered ships affected by major changes in construction or financing arrangements.
It is worth noting that the Spanish government’s revision of shipbuilding subsidy rules comes at a time when the country’s private shipyard order volume is at its highest level in recent years.
The move comes as order volumes for Spain’s private shipyards are at their highest level in recent years.
Data from the Spanish government indicates that, as of the end of 2025, Spanish private shipyards held a total order book of 65 vessels. The total value of these orders exceeds €3 billion (approximately US$3.487 billion at current exchange rates)—the highest level in 15 years—with over 90% of the new shipbuilding projects destined for export. Spain ranks second in the European Union in terms of new shipbuilding contracts and the size of its order book.
Unlike large Asian shipyards, Spanish private shipyards do not focus on the mass production of standard bulk carriers, large container ships, or oil tankers; instead, their core strengths lie in high-value-added, specialized vessels.
For instance, Spanish private shipyards possess unique advantages in sectors such as offshore wind O&M (operations and maintenance) vessels, marine research and survey vessels, aquaculture vessels, large fishing vessels, passenger ships and ferries, specialized tugs, and offshore support vessels. The Spanish government ranks the country first within the EU in shipbuilding related to offshore wind power, marine research, aquaculture, and passenger transport.