Greek shipowner John Dragnis has broken into the offshore market with a fleet deal alongside major financial partners who have a joint eye on further growth.

A three-way tie-up involving Dragnis vehicle Goldenport alongside investors in the US and United Arab Emirates has bought a chunk of Atlantic Navigation’s fleet.

MAG Offshore — a company backed by EnTrust Global wing Maas Capital, the Goldenport Group and Emirati owner Allianz Marine Services — announced on Wednesday that it had bought 20 ships from the Singapore-listed company.