Marco Polo Marine Ltd. released a 1QFY2026 business updates presentation highlighting revenue of S$32.8 million (up 27% year-on-year) and gross profit of S$14.0 million (up 32%), with gross margin at 43%. The company attributed the revenue increase mainly to an expanded ship chartering fleet, including the addition of a CSOV and CTVs, and reported average fleet utilisation of 76% in 1QFY2026 (vs. 71% in 1QFY2025). Shipyard revenue declined 9% year-on-year due to lower shipbuilding activity, partly offset by higher ship repair work, and the company noted its fourth dry dock has been operating since late August 2025. The presentation also covered recent developments including a new shipbuilding contract valued at about S$198 million for a 4,000 GT oceanographic research vessel, plans for two new AHTS vessels to join the fleet in 2026, and an intended listing application for PKR Offshore Co. Ltd. in Taiwan by 3Q 2026. You can access the full presentation through the link below.

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