Adani Ports and Special Economic Zone Ltd is preparing a major expansion of its global marine services business, with plans to enter the European market and invest between ₹11,000 crore and ₹13,000 crore over FY27–FY31 to strengthen fleet capacity and overseas deployment.
The move marks a strategic shift in the company’s offshore marine operations following geopolitical disruptions in West Asia, with the company seeking to diversify its geographic exposure and reduce concentration risks across key maritime corridors.
Speaking to investors, Ashwani Gupta, Whole-Time Director and CEO of APSEZ, said the company is actively expanding into Europe as part of its next phase of international growth.
“We are getting into Europe. Very soon you will hear that our vessels are deployed in Europe,” Gupta said, signalling APSEZ’s intent to establish a presence in one of the world’s most competitive marine services markets.
Fleet Expansion to Reach 200 Vessels by 2031
As part of the strategy, APSEZ plans to increase its marine fleet from the current 136 vessels to nearly 200 vessels by 2031. The investment programme will focus on fleet expansion, global deployment capabilities, offshore operations and technology enhancement.
The company’s marine vertical delivered strong growth in FY26, with revenue rising 134 per cent year-on-year to ₹2,681 crore. During the year, APSEZ added 21 vessels to its fleet, reflecting its accelerated push into marine and offshore services.
According to Gupta, recent instability in West Asia prompted the company to redesign its offshore deployment strategy.
“Learning from the West Asia crisis, we are redefining our offshore marine strategy in our offshore vessel deployment. This is part of our corporate risk management,” he noted.
The company currently maintains operations across the Middle East, North Africa and West Africa, and now sees Europe as a key diversification market.
Marine Business Emerging as Growth Engine
Marine services presently contribute around 7 per cent of APSEZ’s total business portfolio. The company commands nearly 70 per cent market share in India’s marine services segment, making it one of the country’s dominant marine operators.
APSEZ operates its marine business through three major platforms:
- Ocean Sparkle Ltd, which operates 78 tugs and workboats and holds around 70 per cent share in India’s domestic marine services market.
- Astro Offshore, which manages 52 offshore vessels operating across the Middle East, Africa and South Asia (MEASA).
- TAHID (The Adani Harbour International DMCC), the company’s global towage arm focused on GCC markets, operating a fleet of six vessels.
Gupta said the acquisition of Astro Offshore served as APSEZ’s gateway into international offshore services and laid the foundation for the company’s broader global ambitions.
Diverse Marine Asset Portfolio
APSEZ’s current marine fleet of 136 vessels includes:
- 80 tugs
- 41 offshore support vessels (OSVs)
- 15 flat-top barges
Its OSV portfolio comprises anchor handling tugs, multi-purpose support vessels and workboats catering to offshore energy and marine infrastructure sectors.
Apart from its commercial marine fleet, the company also operates 47 captive vessels and 64 dredgers across its Indian port network, although these assets are accounted for under the ports business segment.
With Europe now identified as the next strategic growth destination, APSEZ is positioning marine services as a significant long-term revenue pillar alongside its core ports and logistics operations.
