Penguin International diversifies into offshore wind and green vessels, enters new markets

SHIPBUILDER Penguin International wants to tap the decarbonisation trend with electric vessels as well as vehicles for the booming offshore wind industry – even if it means stomaching lower margins for now.

“Sometimes the price to pay for sustainability is lower profitability,” the company’s managing director James Tham told The Business Times.

Under his leadership and that of executive chairman Jeffrey Hing, Penguin has spent the last decade diversifying its portfolio and geographical reach.