PKR Offshore, a subsidiary of Mainboard-listed Marco Polo Marine (MPM), has signed a framework agreement to lease out two commissioning service operation vessels (CSOVs) to offshore wind turbine manufacturer Siemens Gamesa Renewable Energy.
The two vessels will be deployed to support Siemens Gamesa on multiple offshore wind projects in Taiwan on a non-exclusive basis, presumably giving PKR the flexibility to deploy the CSOVs to other offshore customers and generate more revenue when Siemens Gamesa does not need the vessels.
The framework agreement period is set to run from 2029 for an initial two-year period, with an option to commence from 2028 and including options for multiyear extensions of one to three years, potentially offering revenue visibility. Both parties will also work together to deploy PKRO’s CSOV fleet for Siemens Gamesa’s projects in South Korea and Japan.
“As one of the few operators with proven offshore wind experience in Taiwan, PKRO is well placed to support Siemens Gamesa on its projects in these waters,” says PKRO CEO Kelvin Teo.
Seen through the management’s lens, the pact suggests the deepening of PKRO’s relationship with Siemens Gamesa and reflects the continued confidence that leading offshore wind developers place in MPM’s vessels and operational capabilities.
PKRO owns and operates one unit of CSOV, MP Wind Archer, since her first charter contract in April 2025, Taiwan. PKRO’s second unit of CSOV, CSOV Plus is currently under construction at Marco Polo Marine’s shipyard in Batam, Indonesia, with delivery scheduled for the second quarter of 2028. The third unit is currently still in planning phase.
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The CSOV Plus will be equipped with Siemens Energy’s BlueDrive PlusC hybrid propulsion system which offers improved fuel efficiency and emission reductions, enabling cleaner and more efficient offshore operations.
“This agreement with PKR Offshore strengthens our offshore execution capabilities and supports our ability to deliver reliable solutions for customers across Taiwan and the wider APAC region,” says Radoslaw Rams, head of project management for offshore Asia-Pacific, Siemens Gamesa. “PKR Offshore has been a trusted partner since the early days of Taiwan’s offshore wind industry, and this agreement reflects our shared commitment to supporting the continued growth of offshore wind and a strong regional supply chain.”
MPM says that the CSOV Plus is purpose-built for dual-sector operations in the offshore wind and oil and gas markets and represents its most advanced offshore support vessel to date. The company adds that the deployment of these CSOVs in Taiwan waters reinforces MPM’s growing presence in one of Asia’s most active offshore wind markets, complementing PKRO’s CSOVs operating in the region.
“Securing a multi-year framework agreement for our CSOVs, even ahead of the delivery of vessels, is a strong endorsement of our next-generation CSOV Plus and of PKRO’s track record in supporting offshore wind projects in Taiwan,” says MPM CEO Sean Lee. “This Agreement advances our strategy of expanding the Group’s offshore wind footprint across the region, and we look forward to deepening our partnership with Siemens Gamesa as Taiwan’s offshore wind sector continues to develop.”
