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Marco Polo Marine partners with Enterprise Singapore to own first wind farm vessel designed in Asia

Jan 05, 2025•over 1 year ago

Contract Type

partnership

SingaporeEnergyOil And Gas

Description

Marco Polo Marine, with the support of Enterprise Singapore, has announced the commissioning of the first wind farm maintenance vessel designed in Asia. The US$60 million commissioning service operation vessel (CSOV) represents a significant achievement for the company, marking a remarkable comeback from a $16.9 million net loss in 2016 due to the crash in oil prices.

Company Information

Company

Marco Polo Shipyard Pte Ltd

Location

Singapore

About

Marco Polo Shipyard Pte Ltd operates the shipyard business of Marco Polo Marine. It is involved in shipbuilding and repair activities, with facilities located in Indonesia. The company aims to enhance its operations through strategic growth and investment opportunities in the offshore wind sector. Marco Polo Shipyard is a key player in the marine industry.

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Based on industry data
Strategic partnership established
Partnership agreements typically involve technology integration and joint go-to-market strategies
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Companies with recent agreements are 2.3x more likely to make additional purchases within 6 months

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