Shuaa Capital Secures $300m Finance Facility for Marine Offshore Support Vessel Segment

UAE-based asset management and investment banking firm Shuaa Capital has announced a major financial boost for its marine offshore support vessel (OSV) segment. The Shuaa-managed fund has successfully secured a seven-year finance facility of up to $300 million from National Bank of Fujairah (NBF) and The Arab Energy Fund (TAEF), formerly known as Apicorp, to support the growth of Stanford Marine and Allianz Marine and Logistics Services, which were acquired in 2020 and 2022, respectively.

This landmark deal, one of the largest secured overnight funding rate (SOFR)-based facilities for the OSV sector in the Middle East, is set to be finalized in the coming days. The funding will further integrate Stanford Marine and Allianz Marine and Logistics Services, which collectively boast the largest offshore supply vessel fleet in the region and rank as the fourth largest globally in terms of vessel numbers.

Wafik Ben Mansour, CEO of Shuaa Capital, expressed his excitement about the partnership, stating, “Stanford and Allianz are leaders in their market, with a significant track record of profitable growth and value creation. We look forward to collaborating with management and all stakeholders to enhance the businesses of Stanford and Allianz and contribute to the long-term growth of the offshore oil and gas industry in the UAE and the wider region.”

The financing arrangement aims to optimize the marine portfolio’s debt structure in light of the businesses’ strong performance. It establishes a unified financing facility for Stanford Marine and Allianz Marine and Logistics Services, with provisions for expansion through an accordion feature to support the acquisition of additional vessels.