Singapore offshore vessel owner and operator Marco Polo Marine has strengthened its foothold in the growing Taiwanese offshore wind sector with the acquisition of PKR Offshore (PKRO), part of the POSH Kerry Renewables joint venture.
The company’s joint venture with Taiwan’s Shengfan, Oceanic Crown Offshore Marine Services, has struck a share purchase agreement with Kerry TJ Logistics and Posh Investment Holdings to purchase the entire share capital of PKRO, adding two vessels to its offshore wind services fleet. According to VesselsValue data, PKRO owns the 2008-built utility tug Posh Gaya and the 2013-built crew transfer vessel World Sail.
“With Taiwan becoming one of Asia’s most prolific offshore wind markets, our acquisition of PKRO will further our ambitions to leverage on accelerating growth in the country’s offshore wind energy sector,” stated Sean Lee, chief executive officer of Marco Polo Marine.
Oceanic Crown Offshore Marine Services is 51% owned by Shengfan and 49% owned by Marco Polo Offshore, a wholly owned subsidiary of Marco Polo Marine. The financial terms of the transaction were not disclosed.