JV in Korea
Marco Polo Marine has established a joint venture in South Korea with local partner NSEL, strengthening its presence in the country’s offshore vessel market.
The new company, Baramgil Offshore, will focus on vessel operations, management and chartering, with NSEL holding a 51% stake and Baramgil Corporation taking the remaining 49%.
The venture has been established with an initial paid-up capital of about $107,000, with Marco Polo Marine funding its investment through internal resources.
