Marco Polo Marine Secures S\$100 Million Order Book, Poised for Wind Energy Boom and Earnings Upside

Key Highlights for Investors:

• Secured ship chartering contracts worth approximately S\$100 million as of 30 June 2025, covering the next three years.
• Strong revenue visibility and order book underpins growth outlook for 4QFY2025 and FY2026.
• Strategic pivot to high-growth offshore wind sector and energy diversification.
• Expansion of shipyard capacity with completion of a fourth dry dock, expected to boost operational performance.
• Potential for further upside as global offshore wind capacity set for explosive growth in coming years.

In-Depth Analysis: What Shareholders Need to Know

Marco Polo Marine Ltd (SGX:5LY), a leading Singapore-listed marine logistics group, has delivered a decisive update that could shift investor sentiment and share price momentum. As of 30 June 2025, the company’s ship chartering order book has reached approximately S\$100 million, secured by contracts spanning the next three years. This robust backlog is a critical indicator of sustained demand and revenue visibility, providing a concrete foundation for future financial performance.

CEO Sean Lee emphasized the strategic significance of this achievement, noting that the order book “provides investors with clear revenue visibility and reinforces confidence in our growth trajectory.” The company’s ability to lock in multi-year contracts in both the offshore oil & gas and rapidly expanding renewable wind energy sectors highlights its resilience and adaptability in a volatile geopolitical environment.

Strategic Positioning in Offshore Wind: A Game-Changer

Marco Polo Marine is not just maintaining its market share—it is accelerating its transformation. The company is focusing on the offshore wind sector, which, as of May 2025, boasts 83 GW of installed capacity globally, with a further 48 GW under construction. Industry projections forecast an additional 100 GW to come online within two years, primarily driven by aggressive auction activity in China, Europe, the US, and Northeast Asia.

Marco Polo Marine is already well-positioned to capture this growth. Its Commissioning Service Operation Vessel (“CSOV”) and Crew Transfer Vessels (“CTV”) are actively deployed in Northeast Asia—one of the hottest markets for offshore wind. The company’s investment in a pioneering CSOV fleet is validated by new industry trends: according to Clarksons Research, CSOVs originally designed for wind farms are now being cross-deployed in oil & gas operations, demonstrating the fleet’s versatility and opening up new revenue channels.

Operational Upside: New Vessel Deliveries and Shipyard Expansion

While chartering revenue from rechartering vessels in Taiwan was subdued due to project phasing, the introduction of new CTVs and revenue contributions from the CSOV “Wind Archer” (since mid-April 2025) are expected to bolster earnings for the remainder of 2025 and into 2026. This operational ramp-up comes on the heels of the completion of the company’s fourth dry dock in Batam, Indonesia, which will further enhance shipyard capacity and performance, supporting more sophisticated and higher-value projects.

Marco Polo Marine’s shipyard now occupies 34 hectares with a 650-meter seafront, and its expanded infrastructure—including four dry docks—positions it as a regional leader in shipbuilding, repair, and conversion services. This expansion is expected to provide additional performance contributions in 4QFY2025 and FY2026, potentially driving further earnings upside.

Investor Takeaways: Price-Sensitive Information

• The S\$100 million order book provides strong earnings visibility and could support a rerating of the stock, especially as contributions from new vessels and the expanded shipyard materialize.
• The company’s strategic move into offshore wind, coupled with the versatility of its fleet, positions it to benefit from one of the fastest-growing sectors in global energy.
• Completion of the fourth dry dock is a significant operational milestone, likely to increase both top-line and bottom-line growth as capacity utilization improves.
• Investors should monitor the ramp-up in new chartering contracts and shipyard utilization, as these could lead to positive earnings surprises in FY2026.

About Marco Polo Marine

Founded in 2007 and listed on the SGX Mainboard, Marco Polo Marine Ltd is a regional marine logistics powerhouse, with chartering operations in the Gulf of Thailand, Malaysia, Indonesia, and Taiwan. The group has diversified beyond oil & gas to support the burgeoning offshore wind energy sector, while its Batam shipyard offers advanced shipbuilding and repair capabilities.

Investor Relations Contact:

Emily Choo
Email: [email protected]
Mobile: +65 9734 6565

Disclaimer: This article is for informational purposes only and should not be construed as financial advice or a recommendation to buy or sell any securities. Investors should conduct their own due diligence or seek independent advice before making investment decisions. The information is based on company disclosures as of September 2025 and may be subject to change.

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