An unfortunate accident has impacted ADES Holding Company’ s operations in Egypt. Last July 1, 2025, the jack-up barge Admarine 12, owned by its subsidiary and operating in Egyptian territorial waters, capsized while being towed to a new location.
Details of the towing incident
At the time of the capsizing, 30 people were on board the barge. Of these, 18 were direct ADES Holding Company personnel. The rescue efforts 23 crew members were saved.
Regrettably, 4 people were confirmed dead, including three ADES employees and one external staff member. On the other hand, three people are still missing, while search operations continue with the support of local authorities.
ADES has communicated that it is working closely with the Egyptian emergency services. It also assured its commitment to the families of those affected, providing comprehensive assistance. In addition, the company reiterated its priority on staff safety and announced a full investigation into the incident.
According to the official statement, both the vessel and its crew were protected under the group’s current insurance program. For this reason, ADES does not foresee any impact on its finances or estimated results for fiscal year 2025.
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Source and photo: ADES Holding Company
