Aesen, Topline launch JV to target offshore projects in Philippines

Singaporean maritime firm Aesen and Philippine fuel distribution and infrastructure group Topline Group have formed a joint venture to provide maritime services for offshore wind, offshore energy and marine infrastructure projects in the Philippines, as demand grows for specialised maritime support alongside the country’s expanding investments in renewables and coastal infrastructure.

The new entity, Aesen Topline Offshore Corp, will pool Aesen’s experience in maritime logistics, project delivery and multi-vessel operations with Topline’s local market expertise, regulatory knowledge and business network. It will offer integrated logistics, offshore support and project management solutions, including supply chain services covering cargo handling, transportation, customs clearance and freight coordination to move goods from origin to project site.

The venture will operate on a project basis, deploying vessels and equipment across the Philippines as required by individual developments. Potential projects, including land reclamation and offshore wind schemes, are already in final-stage negotiations.

The launch of Aesen Topline Offshore comes as the Philippines emerges as one of Southeast Asia’s most promising offshore wind markets, with significant new capacity planned and growing investment in marine infrastructure, ports and coastal developments to drive demand for specialised marine support services.

Topline said the joint venture positions the company to capture opportunities from an estimated PHP 600 billion (USD 9.73bn/EUR 8.52bn) in planned investment in offshore wind, bridge construction and land reclamation projects in the coming years.

“The Philippines represents one of the most exciting growth markets for offshore energy and marine infrastructure in the region. As offshore wind developments move closer to execution and infrastructure investments continue to accelerate, there is an increasing need for experienced maritime partners capable of delivering safe, reliable and efficient project support services,” said Darren Ang, Group Chief Executive Officer of Aesen.

The financial details of the transaction were kept under wraps.

(PHP 100 = USD 1.623/EUR 1.420)

More information:https://renewablesnow.com/news/aesen-topline-launch-jv-to-target-offshore-projects-in-philippines-1297787/