Marco Polo Marine, through its wholly-owned subsidiary, Marco Polo Shipyard, has secured a NT$4.68 billion ($198 million) contract from the National Academy of Marine Research (NAMR), a research institute under the Ocean Affairs Council of Taiwan.
The contract, which will see Marco Polo Marine designing and constructing a 4,000 gross tonne oceanographic research vessel, is the largest contract win in the division’s history.
The vessel will be built over 1,460 days or around four years at Marco Polo Marine’s shipyard in Batam, Indonesia. Its Singapore operations will provide engineering and commercial support. The vessel, designed by Norwegian firm Skipteknisk AS, will be built to dual class CR (or cyber resilience) and ABS (American Bureau of Shipping) standards.
The project will be fully financed through Marco Polo Marine’s internal cashflows and does not require any project-specific debt.
“We are deeply honoured to be selected by NAMR for this project. This contract represents a landmark achievement for our shipbuilding division as the largest award in our unit's history,” says Sean Lee, CEO of Marco Polo Marine.
“This dual milestone is a strong validation of our shipyard's versatile capabilities in building complex, high-specification vessels, and demonstrates the confidence clients place in our technical capabilities and execution track record,” he adds. “We are grateful for the support provided by Enterprise Singapore in facilitating this milestone. This project positions us firmly within the marine research and blue economy sectors.”
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Soh Leng Wan, assistant manufacturing director of manufacturing at Enterprise Singapore, says the award demonstrates Singapore’s Singapore's world-class maritime engineering capabilities and how the city-state contributes to the global maritime and blue economy.
