A subsidiary of Singapore marine outfit Kim Heng Offshore & Marine Holdings has set up a joint venture in Taiwan with an unnamed local company to support the development of offshore wind farms.
Bridgewater Marine Taiwan is 51% owned by the Taiwanese company, with Kim Heng Marine & Oilfield owning the remaining 49%.
Another Kim Heng Offshore & Marine Holdings subsidiary Mazu Land & Marine Works has incorporated a branch in Taiwan.
The JV together with Mazu Land & Marine Works aim to charter vessels to clients in Taiwan to support offshore wind development.
It will also provide a marine spread and support services for the installation of horizontal directional drilling conduits by Hung Hua Construction for subsea cable installation works for an unnamed project.
The group is also seeking more works in the offshore wind sector not directly impacted by the oil price, in order maximise usage of its offshore assets and technical knowhow.