Splash247 reports that Marco Polo Marine has established a South Korean joint venture through its affiliated businesses and local partner NSEL. The company, Baramgil Offshore, will undertake vessel operations, management and chartering.

NSEL holds 51% and Baramgil Corporation holds 49%, according to the report. Baramgil Corporation is owned 90% by PKR Offshore, a Taiwan-based affiliate in which Marco Polo Marine holds an indirect 49% interest.

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Source: Splash247 · original report