NewTimeSpace News:On March 11, 2026, Mooreast announced via a public notice the official completion of its acquisition of the property at 60 Shipyard Crescent, Singapore, with the new facility scheduled to start operations in the third quarter of 2026. According to the notice, the new facility will be used for manufacturing high-value subsea foundations and serve as a logistics hub for equipment storage, transshipment and assembly, which will effectively boost operational efficiency and ease project congestion.

The notice stated that the acquisition will triple Mooreast’s production capacity, enabling the company to manufacture subsea foundations annually that can support 1.5 to 2 gigawatts of floating offshore wind energy.

Sim Koon Lam, Deputy Chairman of Mooreast, stated that the acquisition marks a significant milestone in the company’s development. The new facility will strengthen manufacturing capabilities, lay the foundation for large-scale projects, and help the company enhance its competitiveness in the emerging floating offshore renewable energy market.

According to available information, Mooreast is a key player in the total mooring solutions sector, boasting nearly 30 years of industry experience. Its business covers the entire lifecycle of mooring systems, including design, engineering, fabrication and supply, serving the offshore oil and gas, marine and offshore renewable energy industries.

NewTimeSpace Disclaimer: All content herein is the original work of NewTimeSpace. Any reproduction, reprinting, or use of this content in any other manner must clearly indicate the source as "NewTimeSpace". NewTimeSpace and its authorized third-party information providers strive to ensure the accuracy and reliability of the data, but do not guarantee the absolute correctness thereof. This content is for reference only and does not constitute any investment advice. All transaction risks shall be borne by the user.