Marco Polo Marine is set to enhance its growth trajectory with the deployment of its new commissioning service operation vessel (CSOV) in the financial year 2025. The vessel has already secured charters at competitive rates for the next three years, with additional orders anticipated. This development is expected to bolster the company’s earnings, supported by increased utilisation and charter rates across its fleet, alongside expanded drydock capacity.
The company’s strategic move to introduce the CSOV is part of a broader effort to capitalise on rising demand in the maritime sector. The vessel’s deployment is anticipated to significantly contribute to Marco Polo Marine’s revenue streams, as it taps into new opportunities for ship chartering.
Alfie Yeo, an RHB analyst, maintains a positive outlook on Marco Polo Marine, reiterating a “BUY” recommendation with a target price of $0.05 (SGD0.07), reflecting a 57% upside potential. The company’s focus on expanding its fleet and enhancing operational capacity is seen as a key driver for sustained growth.
The introduction of the CSOV aligns with Marco Polo Marine’s strategy to leverage its assets for maximum profitability. As the maritime industry continues to evolve, the company’s proactive approach in securing long-term charters positions it favourably for future success. With the CSOV’s deployment, Marco Polo Marine is poised to strengthen its market presence and deliver value to its stakeholders.
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