Marco Polo Marine Raises EUR 14 Million to Accelerate Business Expansion in Offshore Wind

Singapore-based shipbuilder and vessel owner Marco Polo Marine has secured approximately SGD 21 million (around EUR 14 million) through a private share placement, with the company planning to channel the funds toward expanding its capabilities in the offshore wind market.

The placement involved the issuance of 144,865,920 new ordinary shares at SGD 0.145 (approx. EUR 0.098) per share and attracted a group of institutional and strategic investors, including Areca Capital, Astral Value Fund VCC, Evolve Capital Management, Lion Global Investors, and Value Partners Hong Kong, among others.

According to the company, the net proceeds will be used to support its project pipeline and fund capital expenditure tied to business expansion initiatives, particularly those related to offshore wind energy.

Marco Polo Marine said the additional capital would strengthen its balance sheet and provide the flexibility needed to accelerate investment in specialised vessels to meet the accelerating demand for sustainable marine logistics solutions in Asia.

“This successful fund-raising exercise provides us with the capital to pursue our pipeline of value-accriving projects and further solidifies our position as a key player in the region’s energy transition. We are confident this will enable us to deliver sustainable, long-term value to all our shareholders”, said Sean Lee, CEO of Marco Polo Marine.

Marco Polo Marine currently charters offshore support vessels across regional markets, including the Gulf of Thailand, Malaysia, Indonesia, and Taiwan, and has been diversifying its chartering activities beyond the oil and gas sector to capture opportunities in offshore wind.  

Last year, Marco Polo Marine’s first commissioning service operations vessel (CSOV), Wind Archer, was deployed on its first project. At the beginning of 2026, the Group reported that its ship chartering business unit saw a 53 per cent revenue increase in the first quarter of its 2026 fiscal year, compared to the same period in 2025, which came primarily from its offshore wind CSOV.

The vessel was reserved back in December 2022, when Marco Polo Marine’s subsidiary in Taiwan, PKR Offshore, entered into an agreement with Vestas for the deployment of the new CSOV on offshore wind projects in the Asia Pacific region.

In addition to its shipping segment, the Marco Polo Marine Group also operates a shipyard in Batam, Indonesia, which will build its second CSOV, which the Singapore-based company plans to deploy to support both offshore wind and oil & gas operations.

The construction of the new vessel, dubbed CSOV Plus, is scheduled to begin in the second quarter of 2026, and delivery is planned for the second quarter of 2028.

According to Marco Polo, the new vessel will be capable of supporting the complete lifecycle of offshore wind projects, from construction and cable installation to repairs, maintenance, and technician transfer for commissioning and ongoing operations.

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