Page 13: of Offshore Engineer Magazine (Sep/Oct 2025)

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MARKETS OSVs

Several bolt-on transactions have been excluded, yet the

Consolidation, Investment Stability and Outlook

Given the healthy market balance in the region, we have number of completed deals remains high compared to oth- er regions. In today’s market, we do see current valuations seen a string of high-profle enbloc deals and M&A ac- tivity. Prior to the general market recovery post-COVID, at historically high levels, even for aging tonnage, leading we saw Allianz Middle East acquiring 21 vessels from the to less volume in overall S&P activity.

However, capital available for investment in the sector has

Swissco restructuring. Shuaa Capital then took a leading position in Stanford Marine Group in 2020, followed by generally stayed consistent, infuenced by stable activity lev- the acquisition of Allianz Middle East Ship Management els, even with low energy prices for extended periods. Factors in 2022, creating the one of the leading OSV feets in the contributing to this include political, economic, and regula- tory stability in the region’s offshore segment, resulting in region totaling over 115 vessels.

State-backed ADNOC Logistics and Services also made risk that is mainly confned to standard industry cycles.

Currently, there is a pipeline of projects anticipated to major strategic moves with the acquisition of Zakher Ma- rine International in 2022. ZMI controlled 62 jack-up reach FID over the next few years, including the North barges and OSVs at the time of the transaction, enabling Field West project in Qatar and the Dorra, Safaniyah, and

ADNOC L&S to further consolidate its position in the Manifa expansions in Saudi Arabia. The combination of ongoing and upcoming projects is projected to support de- regional market.

Since 2023, we have seen Abu Dhabi Ports picking up mand through the end of the decade.

Given the present feet composition, characterized by 10 vessels in an enbloc transaction from private equity- backed ENAV Offshore, Astro Offshore becoming an a negligible quantity of vessels with keels laid after 2015, combined with restricted capital allocation by shipown- 80% owned subsidiary of Adani Group, and Atlantic Nav- igation’s divesting 20 vessels to a new consortium owned ers in speculative newbuilds, projections indicate that the by Greece’s Goldenport, Maas Capital and local shipowner Middle East can experience stable market fundamentals despite rising global market volatility.

Allianz Marine Services. © wanfahmy / Adobe Stock

SEPTEMBER/OCTOBER 2025 OFFSHORE ENGINEER 13