Marco Polo Marine Ltd., a regional marine logistics company, has announced a significant 30% increase in revenue for the nine months ending 30 June 2026, reaching S$109.7m. The company’s third-quarter revenue also rose by 13% year-on-year to S$35.7m. This growth is attributed to the robust performance of both its Ship Chartering and Shipyard divisions.
The company reported a 7% increase in gross profit to S$15m for the third quarter and a 30% rise to S$46.4m over the nine-month period, maintaining a steady gross profit margin of 42%. A key factor in this success is the expansion of Marco Polo Marine’s offshore vessel fleet and the additional capacity from its fourth drydock.
A noteworthy development is the framework agreement with Siemens Gamesa, signed in July, which supports the deployment and charter of two Commissioning Service Operation Vessels (CSOVs). This agreement is seen as a strong endorsement of Marco Polo Marine’s vessels and operational capabilities, providing a multi-year demand pipeline for its CSOVs.
Sean Lee, Executive Director and CEO of Marco Polo Marine, expressed optimism about the company’s future, stating, “With the CSOV Plus under construction and a third unit in planning, we are building the fleet that Asia’s offshore wind market will need. We remain prudently optimistic on the outlook for the remainder of FY2026 and beyond.”
The company’s strategic initiatives and partnerships position it well to meet the growing demands of the offshore wind market in Asia, indicating a promising outlook for the remainder of the financial year and beyond.
