Blue Economy

Canarias, a tricontinental region with a rich maritime heritage, stands out as a blue laboratory hosting a diverse marine-maritime industry

The European blue economy encompasses a wide array of industries related to oceans, seas, and coasts, spanning both marine and terrestrial environments. Alongside traditional industries, innovative fields such as renewable ocean energy, blue bioeconomy, biotechnology, and desalination are gaining prominence.

Among the most comprehensive coastal and island regions of the European Union, the Canary Islands present significant development opportunities. In this context, the Canarian Blue Economy Strategy, initiated by the local Government, has been established, featuring the creation of a Canarian Blue Economy Observatory.

Nestled in the "Golden Triangle" of the Mid-Atlantic, Canarias serves as a pivotal hub for provisioning, ship repair, and refueling in the area. Its exceptional facilities, infrastructure, favorable climate, and industry expertise position the archipelago as a strategic location for servicing ships and oil platforms, offering excellent business prospects in the marine-maritime industry.

Canarias is also poised to take the lead in Spain's offshore wind sector, with over twenty registered projects awaiting evaluation. The Maritime Spatial Planning (POEM) has identified six high-potential zones for offshore wind energy installations across the islands.

Oil rig in the Port of Santa Cruz de Tenerife

Key facts:

Oil rig
  • Canarias is located 100 km from the African coast and over 1000 km from the Iberian Peninsula.
  • It hosts the primary provisioning and repair station in the Mid-Atlantic.
  • Ranks third in hydrocarbon logistics distribution.
  • Boasts a robust network of commercial, fishing, and sports ports.
  • Maintains maritime connections with over 20 countries and 500 ports in Africa.
  • Features multiple container terminals and terminals for rolling traffic.
  • Home to the Oceanic Platform of the Canary Islands (PLOCAN), providing cost-effective services and facilities to address upcoming challenges in oceanic science and socio-economic needs.

Success cases in Canarias:

This European outermost region also offers the quality, safety and warranty where all major brands of equipment for ships are represented including Kongsberg, MAN, Caterpillar, Wartsila, or Alfa Laval, and also where major international insurance companies such as Blue Cross, BUPA, Sanofi, and DHKV operate. Las Palmas and Tenerife ports also have an average of 20-25 rigs per year, with 40-90 days at port. Vessel traffic in Las Palmas Port is more than 11,000 (>200M TRB) and the Canary Islands hold the biggest naval repair center in the area: 100 companies with 1500 professionals, attending to different types of rigs and assistance vessels annually (Semisubmersible, Jack Up, Drilling Vessel, Ocean Rig and Sea drill).

Many of these companies are represented in a platform called “Canary Islands Suppliers,” a private initiative led by the Canary Islands Maritime Cluster, with collected information on businesses that provide ship repair services in 18 categories of services and related activities. It also works as a hallmark of quality that serves to secure and testify the competitiveness of the activity of this network of innovative local and international suppliers to the offshore and maritime industry.

Other sectors grouped into these ports are renewable electronics steel, petrochemical, software, marine technology, biotechnology, intelligent logistics, health services and international aid.

close to africa
Proximity to the West Africa oil reserves
4 tax rate
A transparent tax system which include Europe's lowest corporate tax rate (4%)
World-class industries, suppliers and highly educated workforce
RD incentives
Excellent location for innvation. The Canary Islands have the best refundable incentives for R&D initivatives on the planet
great place to live
Great place to live
Full connectivity

The best Marine Services

Discover the current business advantages in Canary Islands

Ebook: Marine and Maritime offshore industry
Canary Islands Ports, the one-stop-shop for maritime and marine offshore services in the Mid Atlantic.
Case Study: ASTICAN
Video Case Study: ASTICAN (Germán Suárez)
The Canary Islands Ports
Infographic: Canary Islands Ports
Canary Inslands Conectivitys
Infographic: World Class Connectivity

Companies already established in the Canary Islands