Singapore
India’s Adani Ports and Special Economic Zone Limited (APSEZ) is set to acquire a majority stake in Singapore-based offshore services company Astro Offshore, marking a significant step in its strategy to expand marine operations globally. The $185 million acquisition, which gives Adani an 80% stake in Astro, reflects the conglomerate’s ambitions to become one of the world’s largest marine operators.
Astro Offshore, with a fleet of 26 Offshore Support Vessels (OSVs), specializes in offshore construction and maintenance for the oil and gas industry. The acquisition not only boosts Adani’s fleet, which currently includes 142 tugs and dredgers, but also enhances its market footprint across the Arabian Gulf, the Indian subcontinent, and the Far East.
This strategic move aligns with Adani’s broader international expansion, including port operations in Sri Lanka, Vietnam, Tanzania, and Israel. The acquisition comes at a time when the global offshore vessel market is experiencing record demand, driven by the growth in offshore wind and a resurgence in the oil and gas sector. The combined strengths of Adani and Astro are expected to accelerate growth and offer comprehensive marine solutions.
By Priyadharshini
