This is a very old entry — images are small, formatting is off.
Built in the early 1990s, Marina Port Vell is a waterfront harbor in Barcelona that is currently undergoing a major transformation. The new identity has been designed by London-based Aesop Agency. “The logo itself is an aperture shaped ‘M’ with a playful nod evocative of boats entering the marina,” from this story. More identity applications here.