AD Ports Group, a pivotal entity in global trade, logistics, and industry, has recently announced a landmark acquisition that significantly boosts its capabilities in the offshore sector. The group has acquired 10 offshore vessels for approximately US$200 million, marking a key strategic expansion and enhancing its operations in the Middle East and Southeast Asia.
Enhancing Offshore & Subsea Capacity
This acquisition represents an increase of about 20% in offshore and subsea capacity for AD Ports Group. The investment encompasses a well-maintained, diversified fleet with an average age of around nine years, which is notably less than the industry average. All ten vessels, expected to be delivered in Q4 2023, will contribute to the financial consolidation from Q1 2024 onwards.
Diversified Fleet for Upcoming Projects
The fleet includes various types of offshore vessels, such as Multipurpose Supply Vessels (MPSVs), Platform Supply Vessels (PSVs), Diving Support Vessels (DSVs), and Accommodation Workboats (AWBs). This diverse range adds value, especially considering the upcoming major offshore projects in the Middle East, where there is a shortage of quality assets.
Strategic Positioning in the Offshore Sector
Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, emphasised the strategic importance of this expansion. “The enhanced fleet capacity aligns with our objective to fortify our presence in the Middle East and Southeast Asia. This move not only meets the increasing demand in the energy sector but also positions us as a leading offshore service provider,” he stated.
Positive Outlook and Revenue Generation
This investment is expected to generate more than US$70 million per annum in revenue over the next 3-5 years. It reflects a forward-looking vision, considering the forecasts of an upward trend in the offshore oil and gas market over the medium to long term. Moreover, the Group will take over established contracts with blue-chip clients in the oil and gas industry, promising high utilisation of the existing contracts.
The acquisition by AD Ports Group is a testament to its commitment to balancing its maritime business portfolio and adapting to different market forces and cycles. This strategic move not only enhances its operational capabilities but also positions the Group for future growth and success in the dynamic offshore market.
About AD Ports Group
AD Ports Group is a renowned global player in trade, logistics, and industry, offering diversified services across multiple sectors. The Group’s commitment to strategic expansion and innovation continues to solidify its position in the global maritime industry.
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