TOPLINE EQUITY CORP. said its subsidiary Topline Offshore Inc. has formed a three way partnership with Singapore-based Aesen Pte. Ltd. to supply integrated maritime services for offshore energy and marine infrastructure projects within the Philippines.
In a media release on Thursday, the listed company said the three way partnership, Aesen Topline Offshore Corp., combines Topline Group’s local market presence with Aesen’s marine assets and technical expertise.
“Through this three way partnership, Topline is positioning itself to capture opportunities arising from an estimated P600 billion in investments in offshore wind, bridge construction and land reclamation projects in the approaching years,” Topline Chairman, President, and Chief Executive Officer Eugene Erik C. Lapasaran Lim said.
“By bringing Aesen’s many years of operational experience in offshore services to the local market, we aim to supply the specialized vessels, logistics and marine capabilities these developments would require,” he added.
Topline said the partnership follows continued investments in renewable energy, transportation, and coastal infrastructure within the Philippines, which it said are driving demand for specialised vessels utilized in equipment transport and offshore construction.
“The Philippines represents one of the exciting growth markets for offshore energy and marine infrastructure within the region. As offshore wind developments move closer to execution and infrastructure investments proceed to speed up, there’s an increasing need for skilled maritime partners able to delivering protected, reliable, and efficient project support services,” Aesen Chief Executive Officer and Director Darren Ang said.
The corporate said Aesen Topline Offshore will operate on a project basis and deploy vessels, equipment, and services within the Philippines.
It added that several potential projects involving land reclamation, offshore wind, and large-scale infrastructure developments are in the ultimate stages. — Ashley Erika O. Jose