Vicinay Marine

What Vicinay Marine does

Vicinay Marine S.L.U. is a Bilbao-based industrial manufacturer founded in 1820 that designs and produces high-strength steel mooring chains (40–220mm diameter, grades R3 through R6) and a catalog of more than 1,000 class-certified forged connectors (shackles, ILTs, H-links, sockets, ROV-installable subsea connectors) for offshore energy assets. Its operations are organized through wholly-owned subsidiaries: Vicinay Sestao (chains), Vicinay Mooring Connectors (connectors), Vicinay Marine Innovación (R&D and engineering services), and Ingemoor (integrity management and maintenance), with production sites in Spain, Brazil (Brasilamarras, since 1978), and China (FMAC, since 2004) supporting an 88,000-tonne annual capacity.

The company's revenue model combines project-based hardware sales of chains and connectors to major offshore operators with recurring engineering, inspection, and integrity-management services. Customers include supermajors and NOCs (Shell, CNOOC, Petrobras, ENI, Inpex, ConocoPhillips, Chevron) and offshore wind developers (Equinor, Cobra/Kincardine, WindPlus/EDP), typically under multi-year project contracts and class society certifications. Pricing is quote-based and not publicly disclosed; competitive moat relies on proprietary metallurgical grades (R5 at 1000 MPa, R6 at 1100 MPa), Thermal Sprayed Aluminum/Carbide coatings (ISO 12944 CX, 25+ year durability), Variable Geometry Weight chain geometry, RFID identification, and emerging digital twin/remote corrosion monitoring technologies developed with Tecnalia.

Since July 2025, Vicinay Marine has been undergoing a major transition: the company entered pre-insolvency proceedings, executed a €170 million debt restructuring with 93% write-off by eight banks, and was integrated into Velora Invest (formerly Corporación Cunext Industries) via a €60 million capital injection by Dámaso Quintana, with ownership transfer completing on 2026-07-09. The new ownership positions the company to continue operations under a broader industrial group with stronger financial foundation while preserving its specialization in mooring systems for floating offshore wind, oil and gas, and aquaculture markets.

Name

Vicinay Marine

Legal name

VICINAY MARINE S.L.U.

Website

https://vicinaymarine.com

Company type

Private

Founded year

1820

Operating status

Operating

Headcount range

11–50 employees

Short description

Vicinay Marine is a Bilbao-based industrial manufacturer founded in 1820 that designs and produces high-strength mooring chains (R3–R6 grades, up to 220mm) and forged connectors for offshore floating structures, serving oil and gas majors, offshore wind developers, and aquaculture operators across 30+ countries.

Ownership category

akta.pro rank

Product category

Marine Mooring Equipment

NAICS

Ship Building and Repairing (336611)

SIC

Ship & Boat Building & Repairing (3730)

akta.pro primary industry

Life-Saving Appliances & Safety Equipment (Davit Systems, Lifeboats, Firefighting) (IMAJAIAG)

Keywords

• Offshore mooring chains
• Marine mooring connectors
• Mooring system engineering
• Offshore integrity services
• Floating wind mooring

Headquarters

HQ city

Bilbao

HQ country

Spain

HQ region

Europe

Offices7 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Infrastructure

Revenue model

1. Mooring Chain Manufacturing: Design, manufacture and supply of high-strength mooring chains for Oil & Gas, offshore wind, and aquaculture sectors. 88,000 tons/year production capacity. Chains sold in diameters from 40mm to 220mm across grades R3 through R6.
2. Mooring Connectors: Design and manufacture of high-quality connector accessories including ILTs, H-links, D-type shackles, offshore thimbles, triplates, sockets, uni-joints, and ROV-operated subsea connections. Weights from 100kg to 3,500kg.
3. Engineering Services: Engineering and testing services including mooring integrity management, fitness-for-service assessments, full-scale strength and fatigue testing, structural analysis, and hydrodynamic/mooring analysis. Provided through Vicinay Marine Innovación subsidiary.
4. Integrity and Maintenance Services: Offshore and onshore inspection services, corrective/preventive/predictive maintenance, and monitoring services through Ingemoor subsidiary.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Vicinay Marine designs, manufactures, and supplies mooring chains and connectors for offshore floating energy infrastructure, serving Oil & Gas, Offshore Wind, and Aquaculture sectors. The company operates integrated production facilities in Spain, Brazil, and China with a combined capacity of 88,000 tons per year, producing R5 and R6 grade high-strength mooring chain, proprietary connector systems, and complementary mooring accessories, complemented by integrity management and engineering services.

Product overview

Vicinay Marine is a world leader in the design, manufacture, and supply of mooring chains and connectors for the offshore energy industry, operating as a family-owned industrial group since the mid-17th century. The product portfolio centers on two core manufactured products—Mooring Chains (up to 220mm diameter in grades R3 through R6) and Mooring Connectors (including ILTs, shackles, thimbles, sockets, and subsea solutions)—supplemented by three service divisions: Vicinay Marine Innovación (R&D, engineering, and testing services), Integrity Services/Ingemoor (offshore/onshore inspections and mooring integrity management), and Smart Industry Services (automation, sensorization, and monitoring). The company also offers proprietary high-strength steel grades (R5/R6), specialized coatings (TSA, TSC), and VGW chain solutions. All offerings are supported by comprehensive maintenance services and a network of manufacturing facilities in Spain, Brazil, and China.

Differentiator

Problem solved

Functional benefit

Brands

• Vicinay Marine Innovación (VMi): Research and Development, Engineering/Testing Services and Innovation subsidiary responsible for R&D projects, technological services and innovative solutions for mooring floating systems
• Ingemoor
• Vicinay Mooring Connectors

Products and services

• Offshore Mooring Chains High-strength mooring chains manufactured in R5 and R6 grades for permanent floating mooring systems in Oil & Gas, floating offshore wind, and aquaculture applications.
• Mooring Connectors (D-Shackles)

Quantifiable outcome

• Over 1,000,000 tonnes of chain delivered in landmark offshore projects
• +4 more outcomes

Named customers12 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability5 records

Feature7 records

Partnerships

21 partnerships are on record, tiered core.

• Tecnalia Research and InnovationcoreTechnology or Integration · 12 May 2026Joint development of pioneering sensor for remote monitoring of corrosion on mooring lines. Sensor uses electrical resistance measurement technology for real-time section loss quantification and remaining service life prediction. Validated at HarshLab, Europe's only floating test platform for real marine conditions.
• Tecnalia Research and InnovationcoreStrategic or Co-development PartnerHARSH project consortium partner for technologies for design, advanced manufacturing and validation of components for energy facilities in offshore environments. Also developed HarshLab laboratory at BIMEP for real marine environment testing.
• Tecnalia Research and InnovationcoreStrategic or Co-development PartnerMooringSense project consortium partner developing low-cost smart sensor for FOWT motion monitoring, Digital Twin model, and Structural Health Monitoring techniques for floating wind farms.
• Tecnalia Research and InnovationcoreStrategic or Co-development PartnerNAUTILUS project partner for validation and design of semi-submersible structure for floating offshore wind power. Consortium led by Tecnalia.
• EquinorcoreStrategic or Co-development PartnerPrimary customer for Hywind Tampen project - world's largest floating offshore wind farm. Supplied 6,600 tonnes of mooring chains and connectors including specialized ILT designs for shared anchors.
• Iberdrola Ingeniería y ConstruccióncoreStrategic or Co-development PartnerUHINDAR project consortium leader for oscillating water column wave energy collector including structure and mooring system. Installed at BIMEP in 2017.
• Saitec Offshore TechnologiescoreStrategic or Co-development PartnerFLOAT & M project consortium partner developing comprehensive O&M solution for offshore floating wind including new equipment (drones, robots, connectors), digital solutions, and corrosion prevention materials. Hazitek 2021 project.
• ACS CobracoreStrategic or Co-development PartnerFLOCAN 2 GRID project consortium leader for new solutions for platforms and innovative technologies associated with power off-take and grid connection of floating offshore wind farms. CIEN Strategic Programme.
• ShellcoreStrategic or Co-development PartnerSupplied mooring chains and connectors for Prelude FLNG facility (13,000 tonnes), world's largest FLNG facility. Also supplied Bonga FPSO and other Shell projects.
• InpexcoreStrategic or Co-development PartnerSupplied 40,000 tonnes of chains and connectors for Ichthys LNG development in Australia, one of world's most complex LNG developments. Largest chain supply in Vicinay Marine history.
• IK4-IkerlancoreTechnology or IntegrationMECOFFBI project consortium partner for mechatronic technologies oriented to offshore applications, assessing surface treatments and application technologies for corrosion and wear protection.
• ASOCIACIÓN CENTRO TECNOLÓGICO CEIT-IK4coreTechnology or IntegrationMODELAM project consortium partner for modelling behaviour of metallic alloys against hydrogen embrittlement and fatigue phenomena. Also partner in RFMALLOY project for crack growth modelling.
• PetrobrascoreStrategic or Co-development PartnerLocal-content compliant supply of mooring chains for major offshore projects in Brazil including Almirante Tamandaré, Alexandre de Gusmão, Mero 4 and Búzios developments.
• ChevroncoreStrategic or Co-development PartnerMooring Against Corrosion (MAC) JIP partner for integrity management and characterization of microbiologically influenced corrosion (MIC) and protection systems.
• DNVcoreTechnology or IntegrationNorMoor JIP consortium partner (Phase I, II, III) for safe mooring line design reliability analysis from probabilistic perspective regarding environmental, numerical and strength conditions.
• Bridon-Bekaert Ropes GroupcoreStrategic or Co-development PartnerMooringSense consortium partner, worldwide market leaders in wires and ropes producing hybrid solutions for mooring lines. Collaborate to improve understanding of mooring lines loading and performance.
• Saitec SAcoreStrategic or Co-development PartnerMooringSense consortium partner, floating wind turbine platform developer and end user of developed technology.
• Tubacex InnovacioncoreTechnology or IntegrationH2MAT+ project consortium partner for design, production and evaluation of advanced metal alloys and structures in hydrogen service conditions.
• BCAM - Basque Center for Applied MathematicscoreTechnology or IntegrationRUL-ET project consortium partner for developing AI-based approaches to estimate Remaining Useful Life (RUL) of moorings and umbilicals in offshore renewable technologies.
• Tecnalia Research and InnovationcoreTechnology or IntegrationUHINDAR project R&D unit partner for wave energy collector development.
• Mondragon Goi Eskola PoliteknikoacoreTechnology or IntegrationUHINDAR project R&D unit partner for wave energy collector development.

Scale indicators13 records

Recent moves7 records

Expansion highlights6 records

Market position

Strengths4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInes.linkedin.com/company/vicinay-marine

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries6 records

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 Vicinay Marine