Singapore-based shipbuilder and vessel owner Marco Polo Marine has raised approximately SGD 21 million (around EUR 14 million) through a private share placement to expand its offshore wind market capabilities.
The placement involved issuing 144,865,920 new ordinary shares at SGD 0.145 (approx. EUR 0.098) per share. It attracted institutional and strategic investors, including Areca Capital, Astral Value Fund VCC, Evolve Capital Management, Lion Global Investors, and Value Partners Hong Kong.
The funds will support Marco Polo Marine’s project pipeline and capital expenditures related to offshore wind energy business expansion initiatives.
The additional capital is expected to strengthen the company’s balance sheet, providing the flexibility to invest in specialized vessels for sustainable marine logistics in Asia.
“This successful fund-raising exercise provides us with the capital to pursue our pipeline of value-accruing projects and further solidifies our position as a key player in the region’s energy transition,” said Sean Lee, CEO of Marco Polo Marine.
Marco Polo Marine currently charters offshore support vessels in regional markets, including the Gulf of Thailand, Malaysia, Indonesia, and Taiwan, diversifying its chartering activities to include offshore wind.
In 2026, the company reported a 53% revenue increase in its ship chartering business unit during the first fiscal quarter compared to the same period in 2025, primarily driven by offshore wind CSOV activities.
Marco Polo Marine’s Taiwan subsidiary, PKR Offshore, entered an agreement with Vestas in December 2022 for deploying its first commissioning service operations vessel (CSOV), Wind Archer, on projects in the Asia Pacific region.
In addition to its shipping segment, Marco Polo Marine operates a shipyard in Batam, Indonesia, which will construct its second CSOV. The new vessel, CSOV Plus, will support offshore wind and oil & gas operations.
The construction of CSOV Plus is scheduled for the second quarter of 2026, with delivery planned for the second quarter of 2028.
According to the company, the new vessel will support the complete lifecycle of offshore wind projects, including construction, cable installation, repairs, maintenance, and technician transfer for commissioning and ongoing operations.
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Original Story at www.offshorewind.biz