Marco Polo Marine, a reputable regional integrated marine logistics company, is pleased to announce that its wholly-owned subsidiary, Marco Polo Shipyard Pte Ltd (“Marco Polo Shipyard”), has been awarded a contract from the National Academy of Marine Research (“NAMR”), a research institute under the Ocean Affairs Council of Taiwan, to design and construct a 4,000 gross tonne (GT) oceanographic research vessel (“ORV”), marking the largest contract win in the division’s history.
The contract, valued at NT$4.678 billion (approximately S$198 million), represents a significant milestone for Marco Polo Marine’s shipbuilding operations and underscores the Group’s growing capabilities in specialised vessel construction.
The ORV will be built over 1,460 days (approximately four years) at the Group’s shipyard in Batam, Indonesia, with engineering and commercial support provided from Singapore. Designed by the renowned Norwegian firm Skipteknisk AS, a proven designer for similar research vessels, the ORV will be built to dual class CR and ABS standards.
This state-of-the-art vessel will feature a Dynamic Positioning 2 (DP2) system and diesel-electric propulsion with twin azimuth thrusters, along with bow and retractable thrusters. She will also be 2 | Page equipped with a Battery Energy Storage System and Waste Heat Recovery System achieving green and sustainability features. It is also designed for low-noise operations or UWN(R), minimising acoustic output while the vessel is performing sensitive research operations, with an endurance of over 30 days. The vessel will be equipped with advanced wet and dry laboratories, as well as multibeam sonar systems, Conductivity, Temperature and Depth (CTD) sensors, as well as Remotely Operated Vehicle (ROV) A-frames to support a wide range of scientific missions.
Scientific and research equipment for the ORV will be procured from established European Original Equipment Manufacturers (OEMs) according to NAMR’s specifications, with integration supported by specialist consultants.
The project will be fully self-financed through the Group’s internal cashflows and does not require any project-specific debt.
This contract award reinforces Marco Polo Marine’s strategic expansion into high-value, specialised vessel construction that supports marine science, research, and the blue economy, as well as complements the Group’s existing growth in offshore wind vessel segments, including crew transfer vessels (CTVs) and commissioning service operation vessels (CSOVs).
Mr. Sean Lee, CEO of Marco Polo Marine, said, “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. 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. 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, adding a valuable dimension to our portfolio alongside our established offshore wind vessel operations.”
Mr. Soh Leng Wan, Assistant Managing Director of Manufacturing at Enterprise Singapore, said, “Congratulations to Marco Polo Marine on securing this milestone contract to design and build the Oceanographic Research Vessel. This demonstrates Singapore’s world-class maritime 3 | Page engineering capabilities and how we contribute to the global maritime and blue economy. We look forward to helping more Singapore firms unlock similar opportunities worldwide.”