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Sines Marina, a marina located in Portugal, was acquired by Maritime Project in 2021 through a government tender. The initial condition of the marina was badly neglected, and it was mostly used as a shelter for small boats. Our approach was to first maximize traditional marina revenues. This was a workhouse marina, not a destination marina. We aimed to turn it into a world class workhouse marina.
With the various improvements made, Sines Marina is now well-equipped to meet the needs of its customers. The expanded service area and new dry dock provide more space for boats and increase the capacity of the marina. The installation of the 50-ton travel lift allows for easy and safe lifting of boats, while the full CCTV coverage ensures the security of both boats and visitors. The 24-hour operations provide added convenience for boat owners and operators.
Phase 1 of the development plan involved maximizing the potential of this workhorse marina. Since its transformation, Sines Marina has become a top destination for boaters that need repair services. The improved equipment and expanded service area have allowed for revenue expansion in berths, winter storage, and repair services. We are now poised for further expansion with Phase 2 of the development plan which has a larger focus on revenue diversification.
Sines Marina is a great example of how our approach worked to maximize the competitive advantages of the marina, and to generate new revenues. Sines wasn’t going to be a destination marina in the course of one year, but we made it a destination for what it excelled in. With its convenient location and top-notch facilities, Sines Marina is now a premier choice for boaters sailing the Atlantic.