Companies

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

• Download Presentation Slides
• Download Factsheet

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: Brokers’ take: RHB raises Marco Polo Marine target on expectations of rising charter rates
• The Edge: Marco Polo Marine’s former executive chairman to purchase 121.8 mil shares in the company at 3.3 cents apiece
• Straits Times: Marco Polo Marine Q3 revenue up 140% on shipyard, ship chartering growth
• The Edge: RHB Contiune to ‘buy’ Marco Polo Marine as it ventures into renewable energy 
• Business Times: Brokers’ take: RHB initiates ‘buy’ on Marco Polo Marine on forecast renewable energy turnaround
• The Edge: RHB initiates coverage of Marco Polo Marine with “buy” call and 4.1 cents target price
• The Edge: Marco Polo Marine to boost ship repair capacity by up to 20% with dry dock extension
• Business Times: Marco Polo Marine to acquire majority stake in PT BBR to strengthen foothold in Indonesia
• The Edge: Marco Polo Marine’s earnings triple to $5.95 million in 1HFY2021

Research