Marco Polo Marine, Namsung and HA-E pursue offshore wind in South Korea

By: Tom Russell 11/01/2023 Marco Polo Marine Ltd

General Vessels

Marco Polo Marine Ltd. (Marco Polo Marine), Namsung Shipping Co., Ltd. (Namsung) and HA Energy Co., Ltd. (HA-E) have signed Memorandum of Understanding (MOU) to jointly pursue synergistic offshore wind vessel operations in South Korea..

Founded in August 1953, South Korea’s legacy private shipping line, Namsung, operates in the intra-Asia trade lanes. Servicing over 60 main ports in Asia, the company has since 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. In addition, Namsung recently unveiled its own concept design for a liquefied hydrogen carrier, joining a host of South Korean shipyards and shipowners that are keen on getting into the nascent seaborne hydrogen trades.

HA-E is a multi-discipline company in Korea, offering engineering, construction and commissioning services for various offshore platforms and marine vessels. The company is able to offer a complete portfolio of services to support the offshore wind market in Korea, including the provision of manpower and vessels for environmental impact assessment. Aside from operational support, HA-E also offers end-to-end consultation services to wind clients, covering areas from early stage wind farm development to longer-term operational and maintenance phase.

Marco Polo Marine is an 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 (OSVs) 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. Back in December, Marco Polo Marine announced the signing of a Memorandum of Understanding between its Taiwan-based subsidiary, PKR Offshore Co., Ltd, and Vestas Taiwan Co., Ltd, for the maiden deployment of its new Commissioning Service Operations Vessel.

“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.

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