Adani Ports and Special Economic Zone Ltd (APSEZ) is set to enter the European marine services market, while planning to invest ₹11,000–13,000 crore between FY27 and FY31 to expand its global marine business, as it recalibrates strategy following geopolitical disruptions in West Asia.
“We are getting into Europe. Very soon you will hear that our vessels are deployed in Europe,” said Ashwani Gupta, whole director and CEO of APSEZ while adding that the move reflects a broader push to diversify geographic exposure and reduce concentration risks. The company is targeting to scale up its marine fleet from 136 vessels currently to around 200 vessels by 2031. In FY26, the company’s marine business grew by 134 percent year-on-year to Rs 2681 crore, while it added 21 vessels in its fleet in FY26.
Gupta said the company is redesigning its offshore marine strategy after disruptions linked to tensions in West Asia, expanding beyond its existing presence in the Middle East, North Africa and West Africa. “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 told investors recently. The planned capex will be directed towards fleet expansion, global deployment and capability enhancement, as APSEZ positions marine services as a key growth driver alongside its core ports business.
The marine business currently contributes about 7% of APSEZ’s overall business, with the company holding a 70% market share in India’s marine services segment. APSEZ operates its marine vertical through three platforms. Ocean Sparkle Ltd runs 78 tugs and workboats with around 70% domestic market share, while Astro Offshore operates 52 vessels across the Middle East, Africa and South Asia (MEASA). Its global arm, TAHID (The Adani Harbour International DMCC), manages towage operations in GCC markets with a fleet of six vessels.
Gupta noted that the acquisition of Astro Offshore marked the company’s entry into global offshore services, with Europe now emerging as the next phase of expansion. In total, the company operates a 136-vessel marine fleet, including 80 tugs, 41 offshore support vessels (OSVs) and 15 flat-top barges, with OSVs spanning anchor handling, multi-purpose and workboats. In addition, APSEZ runs 47 captive vessels and 64 dredgers across its Indian ports, though these are accounted for under the ports business.