Etermar

What Etermar does

Etermar - Engenharia, S.A. is a Portuguese marine engineering and construction firm founded circa 1968-1969 and headquartered in Setúbal, Portugal. The company delivers a portfolio of specialized maritime infrastructure services: dredging (hard and compact soils, cutter suction dredgers), port works (quay construction, breakwaters), offshore foundations (soil improvement for port structures), polyethylene (PEAD) submarine pipeline installation, cable car system design and construction, civil construction, water resources engineering, renewable energy marine infrastructure, and vessel chartering. Etermar operates a proprietary fleet of 65+ vessels, providing self-sufficient execution capacity that is rare in its segment. The company serves enterprise and government clients across Europe, Africa, South America, and the Caribbean, with a recent active project pipeline spanning Portugal (PSA Sines, BayFloat, Sines data centre), Senegal, Peru, Cape Verde, Dominican Republic, France, Equatorial Guinea, Brazil, Tunisia, Madeira, and Poland.

The business model is project-based and B2B, with Etermar acquiring work through competitive tenders and direct enterprise negotiations with port authorities, energy developers, utilities, and infrastructure operators. Revenue is generated through one-time construction and engineering contracts rather than recurring subscriptions or licensing. Pricing is contract-specific and not publicly disclosed. The company employs 501-1,000 staff and is privately held as a Sociedade Anónima under Portuguese law, with no public listing. Recent activity signals a deliberate pivot into renewable energy and data-centre-adjacent infrastructure under the "Etermar Energia" sub-brand, including a co-developed floating offshore wind prototype (BayFloat) and HVO-powered emergency power modules for a hyperscale data centre campus.

Name

Etermar

Legal name

ETERMAR - Engenharia, S.A.

Website

https://etermar.pt

Company type

Private

Founded year

1969

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Etermar is a Portuguese marine engineering and construction firm, founded ~1969, with 65+ vessels delivering dredging, port works, offshore foundations, submarine pipelines, cable car systems, and renewable energy marine infrastructure to enterprise and government clients across multiple continents.

Ownership category

akta.pro rank

Product category

Marine Engineering Services

NAICS

Support Activities for Water Transportation (4883), Other Support Activities for Water Transportation (48839)

SIC

Oil & Gas Field Services, Nec (1389), Services-Equipment Rental & Leasing, Nec (7359)

akta.pro primary industry

Dredging & Channel Deepening (Capital & Maintenance) (IMAFAJAB)

akta.pro secondary industries

Port Rehabilitation, Maintenance & Asset Renewal (Repairs, Strengthening) (IMAFAJAL), Subsea & Nearshore Civil Works (Trenching, Rock Placement, Mattressing) (IMAFAJAI), Marine Electrical Installation, Commissioning & Field Services (IMAJAJAL)

Keywords

• Marine engineering services
• Port construction
• Offshore foundations
• Dredging services
• Submarine pipeline installation

Headquarters

HQ city

Setúbal

HQ country

Portugal

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Supply Chain, Personnel, Infrastructure

Revenue model

1. Marine Engineering and Construction Services: Etermar generates revenue through project-based construction and engineering contracts for maritime infrastructure including ports, offshore foundations, dredging, submarine pipelines, and cable car systems. Revenue is earned through one-time project fees for completed work.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Etermar is a marine engineering company that provides specialized services in dredging, port works, offshore foundations, submarine pipelines, and cable car construction. Operating a fleet of 65+ vessels, the company delivers coastal and offshore infrastructure projects for public and private clients across multiple countries.

Product overview

Etermar is a Portuguese maritime engineering company with over 55 years of experience offering a comprehensive portfolio of marine engineering services. The company operates as a single unified offering with multiple service lines: Dredging, Port Works, Offshore Foundations, Submarine Pipelines, Cable Car Construction, Construction, Water Resources, Renewable Energy, and Chartering (fleet of 65+ vessels). Recent products include the BayFloat floating offshore wind platform prototype and 14 renewable-fuel emergency power modules for the Sines data centre.

Differentiator

Problem solved

Functional benefit

Products and services

• Dredging Services
• Port Works
• Offshore Foundations
• Submarine Pipelines
• Cable Car Construction
• Construction Services
• Water Resources Projects
• Renewable Energy Infrastructure
• Vessel Chartering
• BayFloat Prototype
• Renewable-Fuel Emergency Power Modules

Named customers4 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Three partnerships are on record, tiered core.

• ØrstedcoreStrategic or Co-development Partner · 18 June 2026Etermar is supplying 107 external platforms for Ørsted's Baltica-2 offshore wind farm in Poland as part of the project's secondary steel supply chain. This represents a significant supplier relationship for a major offshore wind developer.
• EnergetuscoreStrategic or Co-development Partner · 4 April 2026Etermar signed a contract with Energetus to construct 14 renewable-fuel emergency power modules for the Sines mega-data centre project. The modules will operate using Hydrotreated Vegetable Oil and are scheduled for completion by mid-2027, increasing the data centre's capacity to 33MW.
• BayWa r.e.coreTechnology or Integration · 26 March 2026BayWa r.e. contributed its proprietary 22 MW reinforced concrete semi-submersible floating wind foundation design for the BayFloat prototype project at the Port of Setúbal. The design is certified under DNV floating wind standards. This is a strategic co-development partnership for floating offshore wind technology.

Scale indicators3 records

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• Saipem: Italian offshore engineering and construction major with offshore wind and subsea pipeline capabilities — competes with Etermar in offshore foundations and submarine pipeline installation for energy clients.
• Royal IHC: Dutch marine equipment builder and service provider with shipbuilding, dredging, and offshore capabilities — a broader incumbent adjacent to Etermar's marine engineering and chartering operations.
• Hyundai Engineering & Construction: Korean construction major with offshore and marine infrastructure capabilities including port and offshore wind projects — overlaps with Etermar in marine infrastructure, though operating at substantially larger scale.
• Subsea 7: Global offshore installation contractor serving oil & gas and offshore wind — overlaps with Etermar on offshore wind installation work, though focused on subsea pipelay and SURF rather than dredging and port works.

Direct peers

• DEME: Belgian marine contractor operating across dredging, offshore energy, and marine infrastructure — competing head-to-head with Etermar for offshore wind foundation and port construction contracts in EMEA and beyond.
• Van Oord: Dutch-headquartered global marine contractor with major dredging, port construction, and offshore wind installation capabilities — directly competing with Etermar for international tenders in the same core service lines.
• Boskalis: Royal Boskalis Westminster is a global dredging and marine services contractor with extensive dredging, offshore wind, and port infrastructure operations — a direct peer across Etermar's primary service lines.
• Jan De Nul: Belgian-headquartered dredging, marine construction, and offshore services group with comparable portfolio breadth — competing in the same European and emerging-market tenders as Etermar.

Regional players

• Great Lakes Dredge & Dock: US-listed dredging and marine construction services provider with comparable dredging and port infrastructure capabilities — competing in the same category but primarily serving the Americas coastal market.
• Penta-Ocean Construction: Japanese marine civil engineering and dredging contractor — comparable portfolio of port construction, reclamation, and offshore works, but primarily serving Japan and select Asian markets rather than Etermar's EMEA/LATAM focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCsT0f3V0PdRBNi09wEtFuBg
• LinkedInlinkedin.com/company/etermar-engenharia-e-constru%C3%A7%C3%A3o-sa

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Etermar