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Listed on the Mainboard of the SGX-ST since 2007, Marco Polo Marine Ltd is a reputable regional integrated marine logistics company which principally engages in shipping and shipyard operations.

The Group’s shipping business relates to the chartering of Offshore Supply Vessels (“OSVs”) for deployment in regional waters, including the Gulf of Thailand, Malaysia, Indonesia, and Taiwan, as well as the chartering of tugboats and barges to customers, especially those which are engaged in the mining, commodities, construction, infrastructure, and land reclamation industries.

Under its chartering operations, the Group has diversified its activities beyond the oil and gas industry to include the support of offshore wind farm projects. The burgeoning offshore wind energy industry in Asia is at a nascent stage where structures are being installed, which presents tremendous opportunities for the Group whose fleet can support the development of these projects.

The Group’s shipyard business relates to shipbuilding and providing ship maintenance, repair, outfitting, and conversion services carried out through its shipyard located in Batam, Indonesia. Occupying a total land area of approximately 34 hectares with a seafront of approximately 650 meters, the modern shipyard also houses three dry docks, boosting the Group’s technical capabilities and service offerings to undertake projects involving mid-sized and sophisticated vessels.

For more information, please refer to our corporate website: www.marcopolomarine.com.sg

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Recent Developments

Investment Merits

• Attractive Valuation. Assets backed by hard assets, including cash and PPE. The Group owns a shipyard in Batam (occupying more than 34 ha of land area) and 14 OSVs, 2 MWVs and 10 tugboats and barges.
• Strong net cash position of S$50.2 million as of 31 Mar 2023.
• Turnaround efforts bear fruits as the Group turns EBITDA positive.
• Pivoting to renewables to increase utilization and boost profitability.

In The News

• Business Times: Marco Polo Marine directors boost shareholding
• Business Times: Marco Polo Marine H2 net profit falls 41.5% to S$10.7 million on lower revenue
• SG Investors: Marco Polo Marine reports lower 2HFY2024 earnings of $10.7 mil, down 42% y-o-y
• SG Investors: Marco Polo Marine – NDR Highlights
• The Edge Singapore: Marco Polo Marine: Anchoring in diversification

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