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Marco Polo Marine and "K” Line Wind Service to explore opportunities in Japan

By: Tom Russell 06/12/2022 Marco Polo Marine

General Vessels

Marco Polo Marine Ltd. (Marco Polo Marine) and "K” Line Wind Service, Ltd (KWS) have signed a Memorandum of Understanding (MOU) that outlines their intent to explore suitable vessel opportunities in the Japanese offshore wind market.

Through the new entity, both parties seek to own and operate suitable offshore support vessels targeting customers in this sector. The agreement marks Marco Polo Marine’s entry into another offshore wind market in Asia, in addition to Taiwan.

Marco Polo Marine has expanded rapidly into the offshore wind industry in recent years, with the acquisition of PKR Offshore, an established Taiwan-based wind vessel operator, in May this year. The Group also commissioned the development of a new Commissioning Service Operation Vessel (CSOV) at their Batam shipyard in early September to expand its service offerings to support the offshore wind farm sector.

KWS was set up in June 2021 as a joint venture between Kawasaki Kisen Kaisha, Ltd. (“K” Line) and Kawasaki Kinkai Kisen Kaisha, Ltd. for the purpose of providing marine related services for offshore wind power business.

“As Japan unlocks the potential of its offshore wind as a reliable source of energy, we believe the market can become a key revenue-driver for Marco Polo Marine. With KWS as our strategic partner, we intend to pool together our expertise in vessel management and leverage on their deep knowledge of the Japanese market to support the pipeline of offshore wind projects in the region,” said Sean Lee, CEO of Marco Polo Marine.

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Marco Polo Marine and "K” Line Wind Service to explore opportunities in Japan

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