Founded in 1993, Mooreast Holdings has been listed on the Singapore Exchange (SGX) since November 2021. It is building upon more than 30 years of proven mooring experience, adding senior professionals, increasing production capacity, opening up points of presence across multiple geographical locations and embarking on corporate actions.
1. What is Mooreast’s business about, and what are some of its key business segments?
Headquartered in Singapore, Mooreast is one of three global designers of ultra-high-power anchors — and the only one with in-house manufacturing. As a total mooring solutions provider, Mooreast has led the shift to floating offshore renewables since 2013. With over 30 years of mooring experience in oil and gas marine sectors, the group is well-positioned to tap into the 390 gigawatts (GW) of floating wind projects reported in planning and development stages.
The group has five business divisions:
Mooring: Design and engineering of bespoke mooring systems, leasing or manufacturing of mooring components, and installation and commissioning of offshore sites.
Renewable energy: Focuses on floating wind turbine projects, offshore solar photovoltaic systems, etc. Mooreast offers end-to-end support, which includes design, engineering, fabrication, mobilisation, demobilisation, logistics, services for mooring systems.
Rigging and heavy lifting: Provides specialised rigging systems like chains and steel or synthetic ropes.
Marine supplies and services: Provides mooring components like anchors, chains, and mooring fenders to the marine industry.
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Yard: Utilises the waterfront berth of Mooreast’s yard to provide on-board fabrication, repair and equipment testing services to marine vessels.
2. Can you elaborate more about the multi-buoy mooring upgrade project in Thailand?
In November 2024, we secured a US$6.7 million ($8.6 million) project to upgrade a multi-buoy mooring (MBM) system in Thailand. Mooreast oversaw the design, engineering, procurement, fabrication and installation of the system.
Amongst other mooring components, we also supplied our proprietary MA5P Drag Embedment anchors, transportation and installation services for the project. It was completed in April 2025, underscoring our ability to handle sizeable mooring projects within the oil and gas industry.
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3. Mooreast has secured contracts related to floating offshore wind projects. How does the company plan to scale its capabilities to meet growing demand in this segment, and what competitive advantages does it offer?
The floating offshore wind market offers long-term growth potential, and the group is executing a multi-pronged strategy to capture these opportunities.
First, we intend to acquire a 98,919 sq m facility at 60 Shipyard Crescent which will significantly boost our production capacity, assuring developers that Mooreast can support large-scale projects.
Second, strengthening our ecosystem to better serve the floating renewable sector by collaborating with institutions such as Norway-based GeoProvider, Korea Ocean Engineering & Consultants Co (KOCECO), and National Taiwan Ocean University. Through this, our offerings to customers are even more differentiated.
Third, capitalising on our strong track record that started since 2013. Till date, we have been involved in nearly 30 different projects, supporting over 86.3MW of floating wind farms.
In April 2024, the group secured an order to supply our proprietary MA5S mooring drag anchors to the biggest of the first three floating wind energy projects to be developed in France. We intend to continue to secure more similar projects in the future.
4. Which geographic markets present the most promising growth opportunities for Mooreast, and why?
We are most focused on floating wind opportunities in Europe — UK, Norway and Italy — and North Asia — Taiwan, Korea and Japan. An estimated 5.5GW of floating wind projects is expected to reach Final Investment Decision (FID) by 2028, where stakeholders formally commit to capital allocation, and construction can commence.
Two-thirds of projects approaching FID are in Europe and the remaining is in North Asia. These markets offer feed-in tariffs, streamlined permitting, and robust domestic manufacturing capabilities.
5. What are Mooreast’s key strategic initiatives for revenue growth in FY2025, especially in light of the FY2024 revenue decline?
Mooreast has established new offices in Taiwan and Malaysia in mid-2024, building on bases in Singapore and the Netherlands. These locations position us closer to key floating wind markets in North and Southeast Asia, enhancing customer engagement and project responsiveness.
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We have also partnered with global leaders to enhance our offerings for floating renewable developers—GeoProvider (Norway) to boost geo-technical and geophysical capabilities, KOCECO for joint business and technology development in offshore mooring and anchoring, and National Taiwan Ocean University for research and development in floating offshore platform design.
On Jan 1, we strengthened our leadership team with the appointment of Eirik Ellingsen as CEO, bringing 35 years of offshore wind experience. Supported by a stronger FY2024 order book, these changes lay a solid foundation for Mooreast’s role in upcoming floating wind projects and support financial growth in FY2025 and beyond.
6. What differentiates Mooreast from its competitors in the mooring and anchoring solutions market, and how is it maintaining its edge?
Mooreast’s differentiation lies in being the only ultra-high power anchor designer that also manufactures in-house, enabling quicker lead times, customisation, and comprehensive support.
Unlike competitors focused on specific supply chain segments, Mooreast engages clients from the earliest stages, offering geo-technical and geophysical analysis for tailored solutions. Our global footprint in Southeast Asia, North Asia, and Europe ensures prompt mobilisation and local client service in key offshore energy regions.
7. How might geopolitical developments in Europe and Asia affect Mooreast’s international operations and supply chain?
While geopolitical developments can create disruptions to the supply chain, our wide international footprint mitigates these risks. We are strategically headquartered in Singapore, a globally recognised maritime hub with strong political stability. Singapore’s neutrality and connectivity provide us with a strong base and allow us to act as a bridge between East and West, so that business can continue, regardless of political developments.
8. What are the key sustainability initiatives that Mooreast is undertaking?
As a company supporting the global transition towards renewable energy, the Mooreast team constantly integrates sustainability into our day-to-day operations.
At our headquarters at 51 Shipyard Road, we have installed rooftop solar panels to partially power our operations; in FY2024, the group consumed 467 MWh of energy from our solar panels, supplying approximately 50% of our energy needs and decreasing our Scope 2 emissions.
We also use technology to optimise steel usage and partner with licensed vendors to recycle scrap steel. To minimise waste, we partnered with licensed vendors to recycle scrap steel from production and vessel servicing. Any remaining materials are also repurposed for maintenance and servicing activities at the shipyard whenever possible. In FY2024, we recycled over 318 tonnes of steel waste generated from our fabrication workshop, an increase from 218 tonnes the year before.
9. How is Mooreast contributing to the growth of renewable energy, particularly floating wind farms, and what are its long-term environmental goals?
We believe floating renewable energy will provide an important alternative to traditional energy sources like oil or fossil fuels.
As the floating renewable sector shifts from demonstration to commercial-scale projects, Mooreast’s expertise positions us to accelerate the transition to cleaner energy. With a decade of experience, we deliver tailored, cost-effective solutions that help developers execute projects smoothly.
Over the long term, Mooreast hopes to further strengthen our reputation as a trusted partner for floating renewable projects and to play a key role in generating cleaner and greener energy for the world.
10. What is Mooreast’s value proposition to its shareholders and potential investors? What do you think investors have overlooked?
Shareholders are investing in the world’s only designer-manufacturer of ultra-high power anchors, giving Mooreast a competitive edge in floating offshore wind projects nearing commercialisation.
To give investors an idea of the scale of these projects, commercial-scale floating wind farms are at least 500MW each, compared to 50MW–100MW for pre-commercial projects.
Mooring and rigging solutions (anchors, chains, ropes) make up 5%–10% of total project value, presenting a strong opportunity for Mooreast to become a trusted partner.
Beyond our value proposition, we are expanding into key growth regions, positioning ourselves for success as more developers reach FID and seek reliable mooring partners.
Emelia Tan is director of research and FinLit at SGX Group
