Greek shipowner John Dragnis alongside major partners within the maritime industry have bought 20 offshore support vessels (OSV) from the Singapore-listed Atlantic Navigation.
Greek shipowners are increasingly pursuing growth and diversification opportunities in the offshore sector, with industry observers noting that the current Greek ‘wave’ in the offshore sector mirrors the expansion strategy previously seen in the LNG carrier market.
A notable example of this trend is the announcement on Wednesday by Dragnis-led Goldenport Group, which disclosed a mega deal to buy 20 OSVs involving Dragnis company Goldenport and other major partners.
The Greek owner has broken into the offshore market with a fleet deal, as it pursues further growth.
“We are pleased to announce the expansion of the group into the offshore sector in partnership with Maas Capital and Allianz Marine Services,” commented John Dragnis, CEO of Goldenport Group of companies, adding that the offshore oil and gas sector will continue to play a key role in the future.
In the company’s social media post in LinkedIn, it is mentioned that MAG Offshore Investments LLC moved in a strategic acquisition of Singapore-listed Atlantic Navigation’s 20-strong OSV fleet.
MAG Offshore (MAG) is a strategic partnership between the Blue Ocean maritime strategy managed by global alternative asset manager EnTrust Global (Blue Ocean), maritime investor Maas Capital (Maas), OSV owner and operator based in Dubai Allianz Marine Services (Allianz), and the Goldenport Group of Companies (Goldenport).
The fleet, comprising 20 high-quality OSVs of various types, is currently serving top-tier clients, Goldenport said, across key markets in Saudi Arabia, Qatar, and United Arab Emirates.
Athens-headquartered Goldenport, a renowned international shipping group with diverse interests, including a significant presence in the dry bulk and tanker sectors, explains that this latest acquisition reflects MAG’s commitment to expanding its fleet through both bolt-on acquisitions and organic growth.
The Greek owner considers this deal as a ‘milestone in MAG’s journey’ to becoming a premier OSV owner with vessels operating across the Middle East, Southeast Asia, and Africa.
More specifically, according to the announcement, the company was formed with a clear mission: to pursue a disciplined “buy and build” strategy across the Middle East, Southeast Asia, and Africa.
Prior to this acquisition, MAG owned four modern OSVs operating in the GCC region.
