0537 GMT - Marco Polo Marine's earnings stand to gain from a planned fleet expansion, Maybank Research's Jarick Seet says in a research report. It has partnered with Norway's Salt Ship Design to construct its new commissioning service operation vessel, dubbed CSOV Plus, at its Batam, Indonesia, shipyard starting in 2Q 2026. Delivery is planned for 4Q 2028. The Singapore marine logistics group will also buy two anchor handling tug supply vessels, which will increase its fleet to 21 from 19 by end-FY 2026. The brokerage expects the new vessels to substantially contribute to the company's profit after tax and minority interests from FY 2027-FY 2030 when ready. It raises the stock's target price to S$0.11 from S$0.09, with an unchanged buy rating. Shares are 2.15% higher at S$0.095. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
October 24, 2025 01:37 ET (05:37 GMT)
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