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Marco Polo Marine inks mega Vestas deal for new vessel

4C Offshore | Chloe Emanuel
By: Chloe Emanuel 20/11/2023 Marco Polo Marine Ltd.

Marco Polo Marine Ltd. (SGX:5LY) has finalized a significant agreement with Vestas, formalizing a landmark Memorandum of Understanding (MOU) inked in December 2022 between its Taiwan-based subsidiary, PKR Offshore Co., Ltd, and Vestas Taiwan Co., Ltd. This agreement solidifies the deployment of Marco Polo Marine's new Commissioning Service Operations Vessel (CSOV).

The CSOV, capable of accommodating up to 110 persons, is set for deployment across multiple offshore wind farms in the Asia Pacific region over three years. Construction of the vessel, currently underway at Marco Polo Shipyard in Batam, Indonesia, is expected to conclude, commencing operations in the East China Sea by the second half of 2024.

Incorporating advanced features such as a walk-to-work gangway, a 3D motion-compensated crane, and hybrid-based energy storage systems reducing carbon emissions by up to 20%, this 83-meter vessel represents the first CSOV designed in Asia.

CEO Sean Lee expressed enthusiasm, stating, "This formalized partnership with Vestas signifies a pivotal step towards meeting the escalating demand for support vessels within the region's offshore wind farm industry. Marco Polo Marine remains dedicated to delivering cutting-edge wind construction vessels, ensuring unparalleled performance, quality, and reliability amid the global shift towards clean energy solutions."

Dennis Mordhorst, Regional Director Offshore Support, Vestas Asia Pacific, added, "This milestone with Marco Polo Marine enables us to deploy a technically advanced multipurpose vessel for our upcoming operations in Asia Pacific. We anticipate enhancing vessel market maturity and stability, fostering improvements in future projects and operational readiness."

The Global Wind Energy Council (GWEC) forecasts a substantial surge in wind power capacity installations, with Asia expecting significant offshore wind installations over the next decade. Marco Polo Marine foresees robust demand for its marine vessels in this climate of industry growth and clean energy transition.

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