AD Ports Group acquires E-NAV vessel fleet
Offshore staff
ABU DHABI, UAE — AD Ports Group is acquiring 10 offshore vessels from E-NAV for about $200 million, to strengthen its offshore operations in the Middle East and southeast Asia.
The average age of the fleet is about nine years. All 10 are due to be delivered shortly and comprise multipurpose and platform supply vessels, diving support vessels and accommodation workboats.
According to AD Ports Group, there is a shortage of good-quality offshore vessels at present in the Middle East.
It will also take on the vessels’ established contracts with NOCs and IOCs in southeast Asia and the Middle East, with the investment set to generate revenue of more than $70 million per year over the next three to five years.
11.07.2023