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Marco Polo Marine to build CSOV for Asian offshore wind market

By: Tom Russell 21/09/2022 Marco Polo Marine Ltd.

General Logistics Vessels Windfarms

Marco Polo Marine Ltd. (Marco Polo Marine), a marine logistics company, announced that it will build, own and operate a new Commissioning Service Operation Vessel (CSOV) to service the offshore wind farm industry in Asia. It is due to enter the market in Q1 2024.

The Group will be funding the construction of the vessel with its existing resources and borrowings from financial institutions. A new CSOV is currently valued at about $60 million.

The CSOV, with length of 83m and beam of 21m, is based on the latest design which has been co-developed by Marco Polo Marine and Seatech Solutions International (S) Pte. Ltd. and will be used in commissioning works during construction of offshore wind farms, as well as their maintenance operations. It is to be equipped with the latest walk-to-work motion compensated gangway for safe personnel transfer from the vessel to the turbines, it also has a 3D motion compensated crane to facilitate cargo transfer.

The vessel will also be equipped with green technology, such as hybrid battery-based energy storage systems, that are expected to reduce carbon emissions by up to 15%-20% and designed as future-ready, catering for methanol fuel to enable low carbon emissions. The vessel is to accommodate up to 110 personnel on board.

“In March this year, we unveiled new designs for wind farm service vessels, and have received keen interest from offshore wind turbine makers and offshore wind farm developers. We observed that the industry continues to grapple with a CSOV shortage globally and charter rates continue to surge as well as the need to combat climate change. It is a giant leap forward for the offshore maritime industry and we are optimistic about the ability to meet the rising demand for this vessel type with the deployment of its own CSOV in 1Q2024 tentatively. We will be making the relevant announcements once we have secured charter contracts for the vessel.” said Sean Lee, CEO of Marco Polo Marine.

For everything you need to know about the strategies used to support the construction and O&M of offshore wind farms, current and future, including supply and demand for service and accommodation vessels, and helicopters - click here.

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Marco Polo Marine to build CSOV for Asian offshore wind market

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