Marco Polo Marine signs landmark MOU with Korean companies to pursue offshore wind vessel projects in South Korea

January 11, 2023 | Renewables | Energy Facts Staff Writer | 2min

Marco Polo Marine has signed a landmark memorandum of understanding (MOU) with Namsung Shipping Co., Ltd. and HA Energy Co., Ltd. to jointly pursue synergistic offshore wind vessel operations in South Korea.

According to Marco Polo Marine, the signing of the MOU, which follows its expansion into Taiwan and Japan, marks a “milestone entry” into another major offshore wind market in Asia.

Namsung, South Korea’s legacy private shipping line, is known in the intra-Asia trade lanes. The company services over 60 main ports in Asia and has since expanded rapidly into relevant businesses, including international materials distribution and vessel management. Namsung is also a strategic investor in the 1.5 GW fixed-bottom Chujin offshore wind project, which will feature around 100 wind turbines in the far south of South Korea.

HA-Energy, on the other hand, is a multi-discipline company that offers engineering, construction and commissioning services for various offshore platforms and marine vessels in South Korea.

Leveraging on its vast newbuilding and offshore operational experience, the company is able to offer a complete portfolio of services to support the growing offshore wind market in Korea, says Marco Polo Marine in its statement.

“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,” says Sean Lee, CEO of Marco Polo Marine.