Marco Polo Marine, a regional integrated marine logistics company, has signed a memorandum of understanding with Namsung Shipping and HA Energy to pursue synergistic offshore wind vessel operations in South Korea. The deal marks a “milestone entry”, as the company characterised it, into another major offshore wind market in Asia on the back of its successful expansion into Taiwan and Japan.
Marco Polo Marine said today that South Korea’s legacy private shipping line, Namsung, is renowned on the intra-Asia trade lanes, and has expanded rapidly into relevant businesses, including international materials distribution and vessel management. Namsung is also a strategic investor in the 1.5 GW fixed-bottom Chujin offshore wind project, which will feature around 100 wind turbines in the far south of South Korea.
HA-E is a multi-discipline company in Korea, offering engineering, construction and commissioning services for various offshore platforms and marine vessels.
Marco Polo Marine said today that secures landmark partnerships with Namsung Shipping, and HA Energy, to jointly pursue offshore wind vessel projects in South Korea. The parties will work together to own and operate suitable support vessels like CTVs, SOV and CSOVs, to service the growing offshore wind market in the region.
“We have long anticipated Korea to be a key revenue-driving market for Marco Polo Marine, and therefore, we are extremely excited to join forces with some of the region’s most experienced maritime companies, Namsung and HA-E. The collaboration puts us in a great position to bring together our expertise in offshore wind vessels and tap into our local partners’ deep knowledge of the Korean market, so that we can support our wind clients’ expansion goals and propel the global push towards clean energy,” said Sean Lee, CEO of Marco Polo Marine.
Marco Polo Marine is listed on the Mainboard of the SGX-ST since 2007, is a regional integrated marine logistics company, which principally engages in shipping and shipyard operations.
The Group’s shipping business relates to the chartering of Offshore Supply Vessels for deployment in the regional waters, including the Gulf of Thailand, Malaysia, Indonesia and Taiwan, as well as the chartering of tug boats and barges to customers, especially those which are engaged in the mining, commodities, construction, infrastructure and land reclamation industries.
Source: Marco Polo Marine
