Since its foundation in 1991, and its listing on the Singapore Exchange in 2007, Marco Polo Marine has evolved into a well-rounded marine logistics firm, seamlessly integrating its shipping and shipyard operations. The company charters Offshore Support Vessels (OSVs) for use across regional waters, catering to a variety of maritime needs. Additionally, it runs a shipyard in Batam, Indonesia, where it handles shipbuilding and offers maintenance, repair, outfitting, and conversion services. A pivotal moment for Marco Polo Marine was its debt restructuring in 2017, which set the stage for a strategic transformation. By targeting untapped markets, the company has repositioned itself for sustainable growth in the future.
In recent years, there has been a favorable shift in the balance between demand and supply within the ship chartering sector. This shift has been beneficial for Marco Polo Marine, which has reported a noteworthy rise in revenues from ship chartering. Over five years, revenues have climbed from S$13.6 million in FY2020 to an impressive S$71.9 million by FY2024. This growth equates to an impressive Compound Annual Growth Rate (CAGR) of 39.5%. A contributing factor to this success was Marco Polo Marine’s recent acquisition of a contract for the Asia-Pacific Crew Transfer Vessel (CTV) market, which highlights the company’s expanding influence and reach within the industry.
