Some might deem the delivery of the last of four suezmax tankers to Ibaizabal Group as the end of an era for Spain’s shipbuilding sector.

But speaking at the delivery of the 156,000-dwt Monte Ulia in Cadiz last week, Navantia president Susana de Sarria was decidedly upbeat.

'Strategic plan'

After all, while Spain's shipbuilding sector has slumped from its heyday, the sector has been seeing a rise in orders.