AD Ports Group (ADX: ADPORTS), a renowned global powerhouse in trade, logistics, and industry, has officially announced the procurement of 10 offshore vessels, intended to reinforce its offshore activities in the Middle East and Southeast Asia.
This substantial investment, valued at approximately US$200 million, has been directed towards acquiring a well-maintained and diverse fleet, boasting an average age of around 9 years. This age is notably lower than the industry average, signifying the group’s commitment to cutting-edge resources and technologies.
Anticipated to be delivered in the fourth quarter of 2023, the 10 vessels will undergo financial consolidation from the first quarter of 2024 onwards, marking a significant step forward for AD Ports Group.
The acquisitions, secured from the esteemed Offshore Supply Vessel owner and operator E-NAV, encompass an array of offshore vessel categories, including Multipurpose Supply Vessels (MPSVs), Platform Supply Vessels (PSVs), Diving Support Vessels (DSVs), and Accommodation Workboats (AWBs). This diverse portfolio is set to play a vital role in supporting upcoming major offshore projects, particularly in the Middle East, where a shortage of quality assets has been observed.
Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, expressed his enthusiasm, stating, “I am delighted to unveil this pivotal investment. The expansion of our offshore fleet represents a crucial step in our strategic mission to reinforce and enrich our presence in the Middle East and Southeast Asia. Acknowledging the escalating demand within the energy sector, our group aims to solidify our position as a premier offshore service provider within these regions, while effectively meeting the diverse and expanding demands of our esteemed clientele.”
The move comes as the global offshore oil and gas market, alongside offshore wind, continues to exhibit positive growth trends, with promising forecasts for the future. Leveraging its established position in the offshore industry, AD Ports Group is strategically positioning itself to capitalize on these positive developments, streamline operational efficiencies, and better serve its valued customers.
