Marco Polo Marine completes acquisition of offshore wind company PKRO

Completion of the acquisition is expected to increase the group’s presence in Taiwan and will allow Marco Polo Marine to step closer to its goal of having 40% of its vessels service Taiwan’s offshore wind sector by end FY2022. 

Marco Polo Marine chief executive Sean Lee said, “This move marks a new phase in our growth strategy as we diversify and expand further into the growing offshore windfarm market.” 

Speaking at the time the deal was first announced, Mr Lee said, “With Taiwan becoming one of Asia’s most important offshore wind markets, our acquisition of PKRO will further our ambition to leverage accelerating growth in the country’s offshore wind energy sector.”

In a related development, former POSH Kerry managing director Kelvin Teo has become managing director of PKRO. In a statement on social media, Mr Teo said, “Having worked for the same company for 20 years, it is time for me to move on to start a new chapter in my career.

“I will now join Marco Polo Marine, and continue to be based in Taiwan, to oversee the growth of PKRO and Marco Polo’s expansion into the fast-growing offshore wind business globally.”

The Offshore Wind Journal Conference will be held 14 June 2022. Details and tickets can be found here