Acquisition implies 20% in offshore & subsea capacity for the Group
AD Ports Group recently announced the purchase of 10 offshore vessels, that will bolster offshore operations in the Middle East and Southeast Asia.
The investment is around US$ 200mn into a well-maintained, diversified fleet with an average age of around 9 years, significantly less than the industry average. All 10 vessels are expected to be delivered in Q4-2023 with financial consolidation taking place from Q1-2024 onwards, according to a press communique.
Variety
The acquisitions, from international Offshore Supply Vessel owner and operator E-NAV, encompass a variety of offshore vessel types, including Multipurpose Supply Vessels (MPSVs), Platform Supply Vessels (PSVs), Diving Support Vessels (DSVs) and Accommodation Workboats (AWB’s), representing an attractive offering, particularly in relation to upcoming major offshore projects in the Middle East where there is a shortage of quality assets.
“The expansion of our offshore fleet is a significant move in our strategic objective to fortify and enhance our Middle East and Southeast Asia footprint. We recognise the increasing demand in the energy sector, thereby, through bolstering our fleet, our Group is better positioned to demonstrate our role as a premier offshore service provider within these regions, whilst meeting the diverse and growing demands of our customers,” commented Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group.
