Marco Polo Marine, a Singapore-based company specializing in maritime logistics, has made significant progress in its expansion strategy, after securing the first repair contract for its new dry dock and closing an agreement to ship maintenance long-term ship maintenance agreement with Cyan Renewables.
First contract for dry dock 4 strengthens regional demand
The recent commissioning of Marco Polo’s fourth dry dock, located at its shipyard in Batam, Indonesia, is already beginning to bear fruit. The company announced the award of its first ship repair contract for this new infrastructure, valued at approximately 5 million Singapore dollars. The vessel involved is expected to arrive at the end of August to undergo repairs for two months.
This operation marks a key step in the shipyard’s consolidation as a technical center for medium-sized vessels, supporting the growing need for overhaul and maintenance services in the region. The Group expects this new drydock to contribute directly to revenue growth in the last quarter of fiscal 2025.
3-year agreement with Cyan strengthens sustainable approach
In addition to the inaugural contract, Marco Polo Shipyard has signed a three-year framework contract with Cyan Renewables, a company that manages a fleet of vessels destined for offshore wind projects projects in Asia. This agreement covers comprehensive maintenance, repair and conversion services for offshore vessels.
The alliance with Cyan Renewables positions the group as a relevant player in the clean energy ecosystem. clean energyThe alliance with Cyan Renewables positions the group as a relevant player in the clean energy ecosystem, providing technical capabilities at a time of expansion of the wind energy sector in the region. The fleet involved is key to the construction and operation of offshore wind farms, which directly connects the shipyard’s services with the global energy transition objectives.
Positive projections and diversification strategy
Since its IPO in 2007, the company has evolved into a comprehensive offering ranging from ship chartering to the conversion and maintenance of naval units. Its presence in markets such as Malaysia, Thailand, Indonesia and Taiwan has enabled it to anticipate the technical demands of the maritime industry.
The shipyard’s recent expansion and contract wins reflect a strategy aimed at diversification and sustainability. Backed by modern infrastructure and key partnerships, the company seeks to consolidate its position as a leading provider of maritime logistics and technical services to the Asian offshore sector.
Source: Marco Polo Maritime
Photo: Shutterstock
