Broker Name: CGS International
Date of Report: March 18, 2026

Excerpt from CGS International report.

Report Summary

• Marco Polo Marine (MPM) secured a S\$118 million, 15-year charter contract through its 49%-owned subsidiary PKRO to provide emergency tug and salvage services for Taiwan’s Marine Port Bureau, giving long-term revenue visibility and high vessel utilisation.
• The contract offers a better-than-expected implied charter rate, but profit upside is limited due to profit sharing with non-controlling interests; however, CGS International reiterates an “Add” rating on MPM, citing multiple potential re-rating catalysts like newbuild orders, subsidiary listing, and strong fleet utilisation.

Above is an excerpt from a report by CGS International. Clients of CGS International can be the first to access the full report from the CGS International website : https://www.cgs-cimb.com