CUB, Enterprise Singapore support $190m ORV for Marco Polo

Marco Polo Marine poised for growth through the strategic partnership, CEO says.

Cathay United Bank (CUB) Singapore has partnered with Enterprise Singapore to provide a long-tenor guarantee facility of up to six years, supporting Marco Polo Shipyard Pte Ltd in constructing a specialised oceanographic research vessel (ORV) for Taiwan’s National Academy of Marine Research.

The $190m deal is the subsidiary’s largest contract to date, involving the construction of a 4,000-gross-tonne vessel equipped with advanced green and energy-efficient technologies.

The facility combines tailored financing with a risk-sharing structure, delivering an end-to-end structured trade finance solution.

“We are also privileged to have the support and partnership of Enterprise Singapore on this transaction, reflecting the strength of public-private collaboration in supporting Singapore companies on major regional projects,” Ng Li Lian, Corporate Banking, Cathay United Bank (Singapore), said.

Sean Lee, CEO of Marco Polo Marine, added that the partnership with CUB, together with the support of Enterprise Singapore, will strengthen the company’s ability to take on large-scale regional contracts, positioning it for long-term growth.

NT$1 = S$0.041

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