Singapore offshore vessel owner and operator Marco Polo Marine has completed the acquisition of Taiwan-based PKR Offshore (PKRO) as part of the company’s plan to bolster its presence in the country’s offshore wind farm sector.
Marco Polo’s 49%-owned joint venture company, Oceanic Crown Offshore Marine Services, snapped up the entire share capital of POSH Kerry Renewables joint venture, adding two vessels to its offshore wind services fleet.
“The successful move marks a new phase in our growth strategy as we diversify and expand further into the growing offshore wind farm market,” said Sean Lee, CEO of Marco Polo Marine.
The company noted that the completion of the acquisition of PKRO should allow it to get a step closer to its goal of having 40% of its vessels service Taiwan’s offshore wind farm sector by the end of the fiscal year 2022. Marco Polo Marine recently teamed up with fellow ship designer Seatech to co-develop two new specialised offshore wind service, operation and maintenance vessels. When completed, the ships will be the first SOV and CSOV designed in Asia, Marco Polo Marine said.