New shrimp vessel, Madre Maria, financed by Spanish fishing firm Iberconsa, was launched Sunday during a ceremony held at the Argentinean Contessi shipyard, reports Revista Puerto.

The vessel will catch red shrimp in Argentina out of Rawson, Patagonia, and has fishing rights in place.

“We are convinced that the Argentinean naval industry has the conditions to respond to almost all the demands from ship owners, and our minds are set on the long term,” said Domingo Contessi, chairman of the board of directors of the shipyard.