The move will fund PKR Offshore’s fleet expansion to serve offshore wind energy markets
[SINGAPORE] Marine logistics provider Marco Polo Marine’s (MPM) indirect subsidiary, PKR Offshore (PKRO), is planning a listing in Taiwan.
PKRO will submit its listing application by the third quarter of 2026 and is expected to list in the later part of that year, said MPM in a bourse filing on Monday (Aug 25).
The group described it as a “strategic initiative to strengthen its position” in the growing offshore wind energy market. It did not elaborate on which Taiwanese bourse the filing will take place in.
MPM CEO Sean Lee said the move “aligns Marco Polo Marine with the global energy transition”. “By seeking to list in Taiwan, we are planting our flag firmly in one of the world’s most dynamic offshore wind markets and creating a powerful platform for regional growth.”
MPM owns 49 per cent of PKRO, a Taiwan-based firm that provides logistics and support to offshore wind farms.
Funds from the listing will be used to develop and expand PKRO’s fleet of specialised offshore wind vessels, including commissioning service operation vessels, which provide a platform for both crew and equipment that work on offshore wind farms.
This will enable the group to meet what it predicts to be the “sustained, long-term demand” for offshore wind service vessels in Asia, specifically in Taiwan, South Korea and Japan.
MPM has a bullish outlook on the global offshore wind energy sector. Citing figures from the Global Wind Energy Council, it noted that, as at May 2025, the sector’s capacity has reached 83 gigawatts (GW), with 48 GW under construction and a further 100 GW projected in the next two years.
Shares of MPM ended the day up 3 per cent or S$0.002 at S$0.069, before the bourse filing was posted.
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