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Marco Polo Marine forms South Korean offshore vessel joint venture with NSEL
Singapore-listed offshore vessel owner and shipyard group Marco Polo Marine has set up a joint venture in South Korea with local partner NSEL, creating Baramgil Offshore.
Singapore-listed Marco Polo Marine, an offshore vessel owner and shipyard group, has established a joint venture in South Korea together with local partner NSEL. The new entity is named Baramgil Offshore; NSEL holds a 51% stake, with Baramgil Corporation named as the other party.
According to the source, the joint venture will focus on vessel operations, management and chartering, extending the group's presence in South Korea's offshore vessel market.
No further transaction terms, start dates for operations or fleet details were provided in the material.
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