Singapore-based Marco Polo Marine has signed a Memorandum of Understanding (MOU) with Namsung Shipping and HA Energy, to jointly pursue synergistic offshore wind vessel operations in South Korea.
The move follows Marco Polo’s successful expansion into Taiwan and Japan.
Namsung is a strategic investor in the 1.5GW fixed-bottom Chujin offshore wind project, which will feature around 100 wind turbines in the far south of South Korea.
In addition, Namsung recently unveiled its own concept design for a liquefied hydrogen carrier, joining a host of South Korean shipyards and shipowners that are keen on getting into the nascent seaborne hydrogen trades.
HA-E is a multi-discipline company in Korea, offering engineering, construction and commissioning services for various offshore platforms and marine vessels.
Marco Polo Marine chief executive Sean Lee said: “We have long anticipated Korea to be a key revenue-driving market for Marco Polo Marine, and therefore, we are extremely excited to join forces with some of the region’s most experienced maritime companies, Namsung and HA-E.
“The collaboration puts us in a great position to bring together our expertise in offshore wind vessels and tap into our local partners’ deep knowledge of the Korean market, so that we can support our wind clients’ expansion goals and propel the global push towards clean energy.”
With some of the largest offshore wind projects worldwide, South Korea is committed to achieving net zero carbon emissions by 2050.
Under the latest amendment in policies, installed capacity targets for renewables will increase, with that of offshore wind power rising from the current 12GW to 18-20GW by 2030, according to InfoLink