Singapore and Taiwan Firms Ink Offshore Wind MoU
Singapore’s Kim Heng Marine & Oilfield (KHMO) has signed a Memorandum of Understanding (MOU) with the Taiwan-based Hung Hua Construction (HHC) to collaborate on the offshore wind sector.
KHMO will provide vessels, tugboats and barges to HHC by way of a charter, sale or joint ownership and operation to be used for the transportation, delivery and installation of offshore wind foundations.
The Singapore-based company said it will explore having joint ownership and operation of the vessels to be used for a specified and other upcoming offshore wind projects in Taiwan.
Both parties are expected to work towards signing a formal contractual agreement and charter party agreements.
The MoU will remain in force for one year, with options for extension. It is subject to the execution of the definitive agreements, among other things, KHMO stated.
To remind, HHC placed an order with Damen in February for two fast crew supply vessels of the latest FCS 2710 class which will serve the Taiwanese offshore wind market. In April, Damen cut the first steel for the vessels at its shipyard in Singapore. They will be used to support the Taiwan Power Company.