Adani Ports and Special Economic Zone (APSEZ) subsidiary, Adani Harbour Services has acquired Ocean Sparkle India’s leading third-party marine services provider, which is particularly active in the towage, pilotage and dredging sectors, with an asset base of 94 owned vessels, and 13 third-party owned vessels, in its fleet.
“Given the synergies of OSL and Adani Harbour Services, the consolidated business is likely to double in five years with improved margins, thereby creating significant value for APSEZ’s shareholders.” said Karan Adani, CEO APSEZ. “This acquisition not only provides APSEZ a significant share of India’s marine services market but also provides us a platform for building a presence in other countries.”
Ocean Sparkle has long-standing relationships with existing clients, with contracts ranging from 5 to 20 years. The company has a presence in all India’s major ports, 15 minor ports and all three LNG terminals. Additionally, the company has significant experience in global maritime servicing through its operations in Oman, Saudi Arabia, Sri Lanka, Qatar, Yemen and Africa.