Former Maersk Supply Service CEO takes the helm at AD Ports as takeover looms

Karstensen (pictured) served as CEO from 2016 to 2023. He announced his new appointment on LinkedIn more than a year after he had left MSS, following DOF Group’s takeover announcement.

His tenure at Maersk spanned over three decades, during which he held various leadership positions across the organisation. Under his leadership, Maersk Supply Service navigated a complex and challenging market, demonstrating resilience and adaptability in the face of industry headwinds.

AD Ports Group is a dynamic and fast-growing company with a strong commitment to expanding its presence in the offshore and subsea sectors. The company’s Maritime & Shipping pillar, one of five core business divisions, owns a substantial fleet of offshore vessels that support critical operations for oil companies across the Middle East and Asia. For example, in November of last year, the company agreed to buy 10 offshore vessels from E-NAV for $200m to bolster offshore operations in the region.

Karstensen’s appointment is a strategic move by AD Ports Group to strengthen its position as a leading player in the offshore and subsea market. His deep industry knowledge and proven track record will be instrumental in driving the growth and development of the company’s offshore and subsea business.

His move comes at a pivotal time for the offshore and subsea industry, which is experiencing a resurgence driven by increasing energy demand and technological advancements. For instance, his previous company MSS is in the process of takeover proceedings by Norwegian offshore vessel owner DOF.

DOF looks to acquire Maersk Supply Services

Norway’s DOF Group has entered into an agreement to acquire Maersk Supply Service (MSS) as it looks to cement its position as a major integrated offshore services provider.

The deal is said to be worth around $1.1 billion. MSS will at the time of completion of the transaction will own 22 high-quality subsea and AHTS vessels, following a carve-out of certain entities, vessels, assets and liabilities.

The combined company, operating under the DOF Group name and brand, will be a leading offshore service provider with comprehensive scale and a wide range of services across all continents in the offshore energy industries. DOF and MSS’ current operations are both strategically and geographically complementary, and future growth ambitions are strongly aligned. Leveraging the two global organisations’ strong capabilities and competencies that will further enhance the combined company’s position as a major integrated offshore services provider. The combined company will be one of the largest oil services companies listed on the Oslo Stock Exchange.

Deal highlights