Попробуйте:
Код:

$connectionString = "myServerAddress;Port=1234;Database=myDataBase;Uid=myUsername;Pwd=myPassword;"
$connection = New-Object MySql.Data.MySqlClient.MySqlConnection
$connection.ConnectionString = $connectionString
$connection.Open()
$sql = New-Object MySql.Data.MySqlClient.MySqlCommand
$sql.Connection = $connection
$sql.CommandText = "update Shipowner set ColumnName = "New VALUE" where itemId = 1"
$sql.ExecuteNonQuery()