AD Ports Group announced the purchase of ten offshore vessels to strengthen its offshore activities in the Middle East and Southeast Asia.
The investment is around US$200 million in a well-maintained, diverse fleet with an average age of approximately nine years. All ten vessels are planned to be delivered in the fourth quarter of 2023, with financial consolidation beginning in the first quarter of the next year.
The acquisitions from international Offshore Supply Vessel owner and operator E-NAV include a wide range of offshore vessel types, including Multipurpose Supply Vessels (MPSVs), Platform Supply Vessels (PSVs), Diving Support Vessels (DSVs), Accommodation Workboats (AWBs).
“I am pleased to announce this key investment, 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,” stated Mohamed Juma Al Shamisi, managing director and Group CEO, AD Ports Group.
The transaction contributes to AD Ports Group’s strategy of continuing to balance its portfolio of Maritime businesses with assets and services exposed to different market forces and cycles, thereby limiting performance volatility, despite forecasts of an upward trend in the offshore O&G market over the medium term.
