Marco Polo Marine fixes financing deal for CSOV newbuild
Singapore offshore vessel player and shipyard Marco Polo Marine, along with its Taiwan-based subsidiary PKR Offshore, has entered into a financing agreement for its offshore wind commissioning service operation vessel (CSOV) newbuild.
The financing deal for the purpose-built CSOV, to be named Wind Archer, was signed with Taiwan-based banking holding company Bank Sinopac.
The bank has been a strong advocate for net zero and is supporting the localisation drive in the offshore wind market in Taiwan.
“We look forward to building a long-term partnership with them for our fleet expansion in Asia-Pacific in the coming years,” PKR Offshore said on LinkedIn.
The new CSOV, which can accommodate up to 110 persons, is currently under construction at Marco Polo Shipyard in Batam, Indonesia, and is expected to enter service in the East China Sea later this year.
The Wind Archer has already won a contract with Danish wind turbine maker Vestas. It will be used across various offshore wind farms in the Asia Pacific region over three years, based on a minimum yearly utilisation commitment.
