At the foot of A Guía’s Vigo mountain, near the Punta Lagoa port and the Guixar container terminal, a once-iconic Galician shipyard stood as a beacon of local industry. Its origins trace back to 1919 on Calle Areal in Vigo, when Factorías Vulcano began a legacy of boatbuilding. Through the decades it produced a broad fleet—from chemical tankers in the Vigo series to Ro-Ro vessels and seismic support crafts—embodying the era’s maritime spirit. Yet in its later years the company faced repeated bankruptcies, and the shipyard acquired many auxiliary vessels, absorbed its own subsidiary Factorías Juliana, and repeatedly flirted with revival promises. It finally faded on its 100th anniversary, leaving a record of both achievement and struggle in its wake.
Accounts from industry observers recount a pivotal moment involving shipyard administrator San Enrique, led by José Alberto Barreras, in a controversial concession process that intersected with the Vigo Port Authority and high-level government figures. Vulcano’s stake was central to the dispute. Ultimately, the land was preserved for shipbuilding, but two and a half years after the San Enrique project was deemed permissible, the balance remained far from the company’s early expectations and from the port’s requirements. The concession’s final expiration hung in the balance as discussions continued.
The renewal for Vulcano’s operation was granted in April of the previous year, with assurances of a 2.45 million euro investment. The usufruct period on port lands extended to fifteen years. Two critical points emerged: San Enrique had to deliver the promised jobs within two years, and annual turnover needed to exceed 10 million euros. As Faro de Vigo reported, the port authority granted an extra year, extending the target to the end of 2023. However, sources close to the port administration indicated to this newspaper that the timeline would be longer than originally stated. The new plan stipulated that the countdown would begin from the date of final acceptance of works, effectively giving San Enrique until May 2025 to meet the sales and employment goals. The operation, centered in Teis, remained under the leadership of Juan Moreno Portillo, with ongoing assessments of performance.
- Investments: 2.45 million euros
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The shipyard aimed to upgrade the north and south berths, along with crane and lifting-platform enhancements.
- Sales threshold: 10 million euros
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Port officials noted that the clock would start in May 2024, giving the company twelve months to reach the target. In 2022, the company reported revenues of 1.83 million euros.
numbers
The latest annual balance sheet filed with the Trade Registry shows a turnover of 1.83 million euros. Revenue stemmed from equipment sales, scrap metal, and machinery rental, plus a single order for an air-conditioned wind tunnel intended for the automotive sector, managed by the Madrid-based Masdediagram and installed in Gothenburg, Sweden. This contract did not yield the anticipated profits, placing the shipyard in the red by just over one million euros. Other announced projects, such as the Navalia showpiece plan from 2022 for an eighty-meter freezing trawler worth 35 million euros for a former Pescanova subsidiary, have not materialized to date. The workforce has remained small, averaging about nine direct employees, with modest growth in recent years.
Recent weeks have seen two fishing vessels pass through the shipyard process: the igueldo-Marfrió trawler from Marín, bound for the Malvinas fishing area, and the Saint Elizabeth, flagged under Belize, which drew inspections over living conditions and operational irregularities. The Saint Elizabeth recently visited a shipyard in Aveiro after a mid-life refit. The Igueldo project involved installation work, while San Enrique reported completing the ventilation of the south pier as part of ongoing improvements to the north pier. The overall investment program includes upgrades to machinery, cranes, and two large lifting platforms already in operation, signaling continued, though incremental, modernization efforts within a constrained market. The enterprise remains under scrutiny as it seeks to stabilize finances while pursuing defined growth milestones.
Notes from industry observers indicate that the San Enrique project is advancing amid a backdrop of fluctuating demand and evolving regulatory expectations. Analysts emphasize that the port’s strategy to maintain shipbuilding activity in the area hinges on meeting employment and revenue targets within the stated timelines. As the region continues to reclaim its maritime heritage, the Vulcano saga underscores the tension between preserving industrial legacy and executing modern, market-driven renewals. The evolving narrative remains a touchstone for local policymakers and industry participants alike, reflecting the delicate balance between cordoned protection of historic yards and the economic realities of contemporary shipbuilding. [Citation: Faro de Vigo, ongoing coverage, 2024-2025]