These boats are not operating in the Med, they are operating in the Red Sea, which is basically in the Arabian peninsula.
From what I understand from Yachtreport is that Egypt does not have any safety standards, they don't abide by the international safety standards. Diving in the Red Sea seems to be very popular and although the vessels look nice on the outside, internally they are basically IKEA build quality.
Since diving in the Red Sea does not have my interest I never paid that much attention to this industry in Egypt, but already for decades I refuse to fly with anything that is operated by an African airline. Training, maintenance, basically everything is sub standard. My life is worth a bit more than the $ 300 I pay less for a ticket.
And it is the same with the dive boats in Egypt and other countries along the Red Sea.