Topline unit, Singapore’s Aesen form offshore services venture

TOPLINE EQUITY CORP. said its subsidiary Topline Offshore Inc. has formed a joint venture with Singapore-based Aesen Pte. Ltd. to provide integrated maritime services for offshore energy and marine infrastructure projects in the Philippines.

In a media release on Thursday, the listed company said the joint venture, Aesen Topline Offshore Corp., combines Topline Group’s local market presence with Aesen’s marine assets and technical expertise.

“Through this joint venture, 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 coming years,” Topline Chairman, President, and Chief Executive Officer Eugene Erik C. Lapasaran Lim said.

“By bringing Aesen’s decades of operational experience in offshore services to the local market, we aim to provide the specialized vessels, logistics and marine capabilities these developments will require,” he added.

Topline said the partnership follows continued investments in renewable energy, transportation, and coastal infrastructure in the Philippines, which it said are driving demand for specialized vessels used in equipment transport and offshore construction.

“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,” Aesen Chief Executive Officer and Director Darren Ang said.

The company said Aesen Topline Offshore will operate on a project basis and deploy vessels, equipment, and services in the Philippines. 

It added that several potential projects involving land reclamation, offshore wind, and large-scale infrastructure developments are in the final stages. — Ashley Erika O. Jose