Mooreast Holdings is a Singapore-based mooring solutions provider and one of three global designers of ultra-high-power anchors. The Group has over 30 years of experience in mooring operations within the oil and gas marine sectors.
The Group has five business divisions – mooring, renewable energy, rigging and heavy lifting, marine supplies and services, and providing on-board fabrication, repair and equipment testing services to marine vessels at the waterfront berth of Mooreast’s yard.
Since 2013, Mooreast has led the shift to offshore renewables such as floating wind turbines and offshore solar photovoltaic systems. The Group believes floating renewable energy will provide an important alternative to traditional energy sources like oil and fossil fuels.
As the floating renewable sector shifts from demonstration to commercial-scale projects, the expertise Mooreast brings will accelerate the transition to cleaner energy.
Over the long term, Mooreast hopes to further strengthen their reputation as a trusted partner for floating renewable projects and to play a key role in generating cleaner and greener energy for the world.
#1 What are Mooreast’s key strategic initiatives for revenue growth in FY2025?
Mooreast established new offices in Taiwan and Malaysia in mid-2024, building on bases in Singapore and the Netherlands. These locations position us closer to key floating wind markets in North and Southeast Asia, enhancing customer engagement and project responsiveness.
We also partnered with global leaders to enhance our offerings for floating renewable developers—GeoProvider (Norway) to boost geotechnical and geophysical capabilities, KOCECO for joint business and technology development in offshore mooring and anchoring, and National Taiwan Ocean University for research and development in floating offshore platform design.
In November 2024, we secured a US$6.7 million project to upgrade a multi-buoy mooring (MBM) system in Thailand. Mooreast oversaw the design, engineering, procurement, fabrication, and installation of the system.
Amongst other mooring components, we also supplied our proprietary MA5P Drag Embedment anchors, transportation, and installation services for the project. It was completed in April 2025, underscoring our ability to handle sizeable mooring projects within the oil and gas industry.
#2 Mooreast has secured contracts related to floating offshore wind projects. How does the company plan to scale its capabilities to meet growing demand in this segment, and what competitive advantages does it offer?
The floating offshore wind market offers long-term growth potential, and the Group is executing a multi-pronged strategy to capture these opportunities.
First, we intend to acquire a 98,919 sqm facility at 60 Shipyard Crescent, which will significantly boost our production capacity, assuring developers that Mooreast can support large-scale projects.
Second, we want to strengthen our ecosystem to better serve the floating renewable sector by collaborating with institutions such as Norway-based GeoProvider, Korea Ocean Engineering & Consultants Co., Ltd. (KOCECO), and National Taiwan Ocean University. Through this, our offerings to customers are even more differentiated.
Third, we plan to capitalise on our strong track record. Since 2013, we have been involved in almost 30 different projects, supporting over 86.3MW of floating wind farms.
In April 2024, the Group secured an order to supply our proprietary MA5S mooring drag anchors to the biggest of the first three floating wind energy projects to be developed in France. We intend to continue to secure more similar projects in the future.
On 1 January 2025, we strengthened our leadership team with the appointment of Mr Eirik Ellingsen as CEO. He brings 35 years of offshore wind experience. Supported by a stronger FY2024 order book, these lay a solid foundation for Mooreast’s role in upcoming floating wind projects and support financial growth in FY2025 and beyond.
#3 Which geographic markets present the most promising growth opportunities for Mooreast?
We are most focused on floating wind opportunities in Europe – UK, Norway, and Italy – and North Asia – Taiwan, Korea, and Japan. An estimated 5.5 GW of floating wind projects is expected to reach Final Investment Decision (FID) by 2028, where stakeholders formally commit to capital allocation, and construction can commence.
Two-thirds of projects approaching FID are in Europe, and the rest are in North Asia. These markets offer feed-in tariffs, streamlined permitting, and robust domestic manufacturing capabilities.
While geopolitical developments can create disruptions to the supply chain, our wide international footprint mitigates these risks. We are strategically headquartered in Singapore, a globally recognised maritime hub with strong political stability. Singapore’s neutrality and connectivity provide us with a strong base and allow us to act as a bridge between East and West, so that business can continue, regardless of political developments.
#4 How have disruptive technologies like artificial intelligence (AI) and machine learning changed the way the Group carries out its business?
AI will allow us to process and interpret large volumes of complex geotechnical and geophysical data with greater precision and on a shorter timeline. For customers, this means more detailed seabed characterisation and faster turnaround for feasibility studies.
AI-driven simulation software can also enable us to more accurately model and predict how mooring systems interact with weather conditions, seabed soil, and structural loads. This improves our ability to manage risk during the design and installation phases.
Lastly, we also envision leveraging technologies to optimise anchor design and material use, allowing us to reduce material waste while improving performance and cost-efficiency, which in turn helps our sustainability goals.
#5 What is currently Mooreast’s biggest risk or challenge? And how is the Group preparing itself for it?
While the floating renewable sector offers significant growth potential, we expect a variety of teething challenges. Project timelines have been delayed due to cost challenges and policy changes.
Mooreast continues to work closely with developers to keep abreast of these developments and engages them early to secure opportunities once the project is confirmed.
Meanwhile, we continue to maintain a strong pipeline of projects from our traditional O&G sector. Reflecting this, O&G orders have been building up in 2H2024 and have continued to gain momentum in FY2025. These projects will serve as a buffer against the development of the floating renewable sector. The Group also maintains a healthy financial position and cost discipline to ensure we remain adaptable and resilient.
Editor’s Note: Some answers for this article were extracted from the SGX 10 in 10 series published on 29 July 2025 and republished with permission. You can read more about Mooreast Holdings (SGX:1V3) on the SGX website. You can also read other featured companies from SGX’s 10 in 10 series on the DollarsAndSense website.
