Marco Polo Marine to boost ship repair capacity by up to 20% with dry dock extension
15 Jun 2021
As featured in The Edge.
Integrated marine logistics company Marco Polo Marine announced, on June 14, that it intends to extend its dry dock 1 from 150 metres to 240 metres.
The extension will boost the group’s capacity for ship repairs by 20%.
The move is meant to improve the group’s bottom line over the longer term, as its ship repair operations have been a growing source of recurring income.
According to the group, some 50% to 70% of its ship repair operations business has come from repeat customers.
For the 1HFY2021 ended March, the group’s ship building and repair operations business saw a 34% y-o-y increase in revenue to $11.7 million, accounting for some 55% of the group’s overall top line.