Rigas Kugu Buvetava

Name

Rigas Kugu Buvetava

Legal name

AS Rīgas kuģu būvētava

Website

https://riga-shipyard.com

Company type

Public

Founded year

1913

Operating status

Operating

Headcount range

101–250 employees

Short description

Riga Shipyard (AS Rīgas kuģu būvētava) is a publicly listed Latvian shipbuilder founded in 1913 that historically constructed fishing vessels, tugboats, and SWATH naval patrol boats for Scandinavian and European customers, and has since 2022 operated primarily as a real estate lessor following termination of its ship repair business.

Ownership category

akta.pro rank

Product category

Shipbuilding and Marine Construction

NAICS

Ship Building and Repairing (336611), Ship and Boat Building (3366), Ship and Boat Building (33661)

SIC

Ship & Boat Building & Repairing (3730)

akta.pro primary industry

Inland Waterway & River Workboats (Pushboats, Towboats) (IMAJADAB)

akta.pro secondary industries

Patrol, Interceptor & Law-Enforcement Craft (Coast Guard, Customs) (IMAJADAD), Government & Municipal Service Craft (Research, Survey, Inspection, Buoy Tenders) (IMAJADAL), Naval & Government Vessel Maintenance & Modernization (TLAKAKAB)

Keywords

• Shipbuilding services
• Ship repair services
• Naval vessel construction
• Metal fabrication services
• Vessel conversion services

Headquarters

HQ city

Riga

HQ country

Latvia

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Supply Chain, Operations, Infrastructure, Others

Revenue model

1. Shipbuilding: Construction and delivery of new vessel hulls including fishing vessels, tugboats, naval vessels, oil tankers, well boats, and specialized vessels. Primary revenue stream historically with deliveries to Scandinavian and European customers.
2. Ship Repair Services: Dry-docking and afloat repairs for vessels of various types. The company notes it terminated ship repair services in 2022 as part of business restructuring.
3. Metal Constructions: Production of steel, stainless steel and aluminum constructions for external clients.
4. Real Estate Rental: Management and rental of own and leased real estate. This became the primary focus in 2022 as the company restructured its operations.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Rīgas kuģu būvētava designs, builds, and delivers commercial and naval vessels — including fishing vessels, tugboats, well boats, longliners, SWATH patrol boats, and wave energy converters — and historically provided ship repair, conversion, and metal fabrication services. Since 2022, the company has restructured around managing and renting its real estate while retaining residual shipbuilding capabilities.

Product overview

Riga Shipyard (AS Rīgas kuģu būvētava) is a shipbuilding and repair facility established in 1913, offering a portfolio of shipbuilding, ship repair, conversion, and metal construction services. The company focuses on Scandinavian and European customers and has built more than 150 hulls since 1997. Its product portfolio includes fishing vessels, tugboats (Santa and Stella class), SWATH naval patrol boats, wave energy converters, and various ship hull types for different vessel categories.

Differentiator

Problem solved

Functional benefit

Products and services

• Ship Building Services
• Ship Repair Services

Quantifiable outcome

• 150+ hulls delivered since 1997
• +2 more outcomes

Named customers8 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

Feature3 records

Partnerships

Three partnerships are on record, tiered minor.

• Wello (Finland)minorStrategic or Co-development PartnerFinnish firm Wello collaborated with Riga Shipyard on the wave energy converter project 'Penguin'. The project was developed in cooperation with the European Marine Energy Centre. Riga Shipyard built the unique floating power plant that uses sea wave power to generate electricity.
• European Marine Energy CentreminorStrategic or Co-development PartnerCollaborated with Riga Shipyard on the Penguin wave energy converter project. The EMEC provided expertise for the alternative energy project developed by Wello.
• Riga City CouncilminorStrategic or Co-development PartnerSupported the project for building new 'Santa' and 'Stella' tugboats for Riga port, providing political and administrative backing for the modernization of port tugboat fleet.

Scale indicators8 records

Recent moves5 records

Expansion highlights4 records

Broad incumbents

• Vard: Norwegian shipyard (Fincantieri-owned) building offshore service vessels, fishing vessels, and specialized tugs; broader incumbent serving many of the same Scandinavian commercial customers as RKB.
• Meyer Turku: One of Europe's largest shipyards located in Finland; broad incumbent in Northern European shipbuilding that competes for regional labor, supplier relationships, and large-vessel contracts.
• Lürssen: German shipbuilding group with deep naval/military vessel expertise; relevant broad incumbent for benchmarking RKB's naval patrol boat positioning and for potential partnership or acquisition.
• Damen Shipyards: Dutch global shipbuilding group with extensive portfolio in workboats, patrol vessels, and tugs; broad incumbent with overlapping capabilities, particularly relevant for RKB's tugboat and patrol-boat segments.

Others

• Wärtsilä Marine: Finnish marine equipment and lifecycle services provider; relevant ecosystem participant as a key supplier of marine engines/systems used in vessels built by RKB and adjacent service provider for ship repair.

Direct peers

• Fassmer: German shipyard specializing in patrol boats, SAR vessels, and special-purpose craft for naval and coast-guard customers; directly comparable for RKB's SWATH patrol boat franchise and naval customer segment.
• Astilleros Armón: Spanish shipbuilder specializing in fishing vessels, offshore service vessels, and patrol boats — comparable in vessel-type focus (especially fishing fleet) and customer base (European commercial operators).
• Baltic Workboats: Estonian builder of aluminium workboats, patrol vessels, and wind-farm support ships; comparable as a small-to-mid Baltic shipyard targeting similar European and government customers.
• BLRT Grupp: Estonia-based conglomerate operating shipyards in Tallinn and fishing-vessel construction; most directly comparable Baltic peer with overlapping ship repair and new-build capabilities for similar vessel types.

Regional players

• Klaipėda Shipyard: Lithuanian shipyard offering ship repair, conversion, and new construction in the Baltic region; comparable regional competitor serving overlapping vessel markets.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/RigaShipyard
• LinkedInlinkedin.com/company/jsc-riga-shipyard

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 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 Rigas Kugu Buvetava