Marco Polo Marine and F-drones to Co-Develop World’s First Delivery Drones For Offshore Wind Farm Sector

• Marco Polo Marine and F-drones have signed MOU to co-develop the world’s
first large-scale, electric aerial delivery drones for the offshore windfarm market
• Co-developed drones will be expected to support supply and logistic needs of
offshore wind farm installations; more than 90% cost savings and 4x faster than
incumbent method

Marco Polo Marine Ltd. (SGX:5LY) (“Marco Polo Marine” or the “Company”, and together with its subsidiaries, “the Group”), a reputable regional integrated marine logistics company, and F-drones Pte. Ltd. (“F-drones”), a Singapore-based company developing large scale autonomous delivery drones are pleased to announce the signing of a memorandum of understanding (MOU) to co-develop the world’s first large-scale, electric aerial delivery drones for offshore wind farms.

The use of the co-developed delivery drones is expected to result in more than 90% cost savings, and is four times faster than traditional means, which rely mostly on boats and
occasionally, helicopters, as the key modes of transport. The partnership will see both
companies co-develop drones customised for deployment in Asia-Pacific, to send supplies
and critical items to offshore wind installations. F-drones, which has been developing drones to deliver cargoes of up to 100kg over 100km, will offer its advanced drone technology expertise, while Marco Polo Marine will provide strong technical operating and commercial capabilities in the offshore wind sector.

As the offshore maritime industry transitions to a lower carbon footprint, using drones has an added environmental benefit – a significant reduction in fuel consumption can be achieved when conducting remote delivery of packages of up to 100kg and emergency deliveries to vessels. Utilising drones will result in sharply lower Carbon Dioxide Equivalent (CO2e) emissions – which includes CO2 and other greenhouse gases – of up to 99%, as compared to sending a supply boat or Crew Transfer Vessel (CTV) for 100kg loads over 100km to offshore wind farms.

Mr Sean Lee, Chief Executive Officer of Marco Polo Marine, commented: “It gives us great pleasure to unveil this collaboration with F-drones. The partnership is an example of different industry players with aligned values coming together to reduce greenhouse gas emissions, which is in line with global and Singapore government initiatives. By enabling efficient and sustainable maritime logistics, this collaboration will boost the offshore maritime industry, as it transitions to fuels with a lower or minimal carbon footprint.”

Mr Nicolas Ang, Chief Executive Officer of F-drones added: “The world’s energy transition not only requires building renewable energy assets, but also the ability to service them sustainably. Our partnership with Marco Polo Marine is a case-in-point, which has the
potential to transform the future of logistics across offshore wind farms globally.”

About Marco Polo Marine

Listed on the Mainboard of the SGX-ST since 2007, Marco Polo Marine Ltd is a reputable regional integrated marine logistics company that principally engages in shipping and shipyard operations.

The Group’s shipping business relates to the chartering of Offshore Supply Vessels (“OSVs”) for deployment in the regional waters, including the Gulf of Thailand, Malaysia, Indonesia and Taiwan, as well as the chartering of tug boats and barges to customers, especially those which are engaged in the mining, commodities, construction, infrastructure and land reclamation industries.

Under its chartering operations, the Group has diversified its activities beyond the oil and gas industry to include the support of the construction of offshore windfarm projects. The burgeoning offshore wind energy industry in Asia is at a nascent stage where structures are in the process of being installed, which presents tremendous opportunities for the Group whose fleet is able to support the development of these projects.

The Group’s shipyard business relates to shipbuilding as well as the provision of ship maintenance, repair, outfitting and conversion services, which are carried out through its shipyard located in Batam, Indonesia.

Occupying a total land area of approximately 34 hectares with a seafront of approximately 650 meters, the modern shipyard also houses three dry docks, which have boosted the Group’s technical capabilities and service offerings to undertake projects involving mid-sized and sophisticated vessels.

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