Adani Ports has acquired an 80% stake in Astro Offshore for $185 million as part of its strategy to become one of the leading marine operators globally. This acquisition will enhance Adani Ports' presence in key regions like the Arabian Gulf, the Indian subcontinent, and Far East Asia, and connect them with a roster of top-tier customers. Astro Offshore, which generated $95 million in revenue and $41 million in EBITDA for the year ending April 30, 2024, is a prominent player in the offshore industry. Their fleet includes anchor handling tugs, flat top barges, multipurpose support vessels, and workboats. They also provide vessel management and related services. Astro Offshore supports offshore construction, maintenance, and transportation, working on projects like offshore platforms, oil & gas fields, subsea facilities, and large land reclamation projects. Astro Off shore’s long-term contracts help maintain high fleet utilization and benefit from rising charter rates due to a limited global supply of offshore support vessels. Mark Humphreys, Managing Director of Astro Offshore, stated that this partnership with Adani Ports marks a pivotal moment for their company, allowing them to scale up, diversify their fleet, and expand their geographic reach while delivering more comprehensive solutions to their customers.