ADNOC Logistics and Services have big moves as they are set to finalize the takeover of Zakher Marine International
The acquisition of Zakher Marine International (ZMI), an Abu Dhabi-based owner and operator of offshore support vessels with the largest fleet of self-propelled jack-up barges in the world, was announced today by ADNOC Logistics & Services (ADNOC L&S), the shipping and maritime logistics division of Abu Dhabi National Oil Company (ADNOC). The transaction’s financial specifics are not being made public. ADNOC L&S will acquire 24 jack-up barges and 38 offshore support boats from ZMI as part of the deal, which is still pending regulatory clearance. This will bring the overall size of its fleet to over 300 units.
ADNOC Logistics & Services (ADNOC L&S) secured a contract for the building of two LNG vessels with a combined volume of 175,000 cubic metres in April.
By acquiring ZMI, ADNOC L&S will expand its regional presence, expand its services to encompass vital support assets for offshore operations, including ZMI’s first offshore renewables project in China, and open up new potential for growth with a well-known partner. As a consequence of ADNOC’s aggressive expansion plan, ZMI will get access to new prospects that will help it develop and expand the scope of its current business. Ali Hassan El Ali will continue to serve as the CEO of ZMI, which will continue to function independently under ADNOC L&S. ZMI has been working on an offshore wind project in China from 2021. According to Adnoc L&S, the acquisition would expand its range of services to include offshore support assets. In contrast, ZMI will “benefit from access to new prospects” associated with Adnoc’s expansion strategies. It said that by doing this, it would “develop and expand its existing commercial base.”
With the addition of more than 300 boats to its fleet, the acquisition solidifies ADNOC L&S’ position as the leading shipping and integrated logistics firm in the area.
The opportunity presented itself, and ADNOC Logistics and Services jumped at it with both hands. They are hopeful that this acquisition will lead to the success they are looking for since they have seen the possibilities it can offer. They have focused on the areas where they can increase sales while also increasing profitability for both businesses.