Marco Polo Marine has raised about SGD 21 million, equivalent to roughly EUR 14 million, through a private placement to support offshore wind-related expansion.
The Singapore-based group issued 144,865,920 new ordinary shares at SGD 0.145 each, or about EUR 0.098 per share. Investors in the placement included Areca Capital, Astral Value Fund VCC, Evolve Capital Management, Lion Global Investors and Value Partners Hong Kong, among others.
The company said the net proceeds will support its project pipeline and capital expenditure tied to expansion plans, particularly in offshore wind. It also said the new funds will reinforce its balance sheet and support faster investment in specialised vessels serving rising demand for sustainable marine logistics in Asia.
Sean Lee, CEO of Marco Polo Marine, said the fundraising gives the group capital to advance its pipeline of value-accretive projects and further strengthen its role in the region’s energy transition.
The group charters offshore support vessels in the Gulf of Thailand, Malaysia, Indonesia and Taiwan. It has also been widening its chartering exposure beyond oil and gas to capture offshore wind demand.
At the beginning of 2026, Marco Polo Marine reported that revenue in its ship chartering business rose 53 per cent in the first quarter of fiscal year 2026 from the same period in 2025. The company said the increase came mainly from its offshore wind commissioning service operations vessel.
That vessel, Wind Archer, started its first project last year. In December 2022, PKR Offshore, the group’s Taiwan subsidiary, signed an agreement with Vestas for the deployment of the new CSOV on offshore wind projects in the Asia-Pacific region.
The group also operates a shipyard in Batam, Indonesia, where it plans to build its second CSOV, CSOV Plus. The vessel is planned for offshore wind and oil and gas work. Construction is scheduled to start in Q2 2026, with delivery targeted for Q2 2028.
