Singapore offshore vessel participant and shipyard Marco Polo Marine has fashioned one other three way partnership firm with Taiwan’s Shengfan.
The corporate’s subsidiary, Marco Polo Offshore, has included M Renewables within the Cayman Islands, the place it’s going to maintain a 49% possession stake.
Again in 2021, the duo arrange a jv firm, Oceanic Crown Offshore Marine Providers, to help Marco Polo Marine’s offshore wind farm tasks by chartering vessels to clients inside Taiwanese waters.
The Singapore-listed Marco Polo mentioned the principal exercise of the brand new jv can be that of funding holding and that its institution shouldn’t have any materials affect on the consolidated web tangible belongings or earnings for the present monetary 12 months ending September 30, 2024.
Final 12 months, Oceanic Crown Offshore acquired PKR Offshore from a three way partnership between Kerry TJ Logistics and Posh Funding, including two vessels to its Taiwanese offshore wind companies fleet.
Marco Polo’s offshore division was established in 2010 and presently operates a fleet of 17 offshore help vessels, together with two joint-venture models.