Link: https://links.sgx.com/1.0.0/corporate-announcements/Y2W89LFONCD1W61T/36e7e506ef43520b53e3f85efb6a321ec80997d28bd19e480f50ce82cf3bb10f

Summary:

• Successfully commissioned its fourth dry dock (Dry Dock 4) and secured a maiden ship repair contract worth approximately S$5 million; repairs begin end of August and will take about two months.

• The immediate award underscores strong demand for the Group’s ship repair and maintenance services and is expected to positively impact revenue in the final quarter of FY2025 and into FY2026.

• Marco Polo Marine signed a three-year master service agreement with Cyan Renewables (Cyan Offshore Asia) to provide ship repair, maintenance, and conversion services for Cyan’s fleet of offshore wind vessels.

• The Cyan partnership aligns Marco Polo Marine with the growing renewable energy sector and global clean energy initiatives.

• Expanded yard capacity and new contracts reflect the Group’s strategy to support both oil & gas and offshore wind projects, securing steady recurring revenues.

• CEO Sean Lee highlights the successful execution of expansion plans and the Group’s readiness to meet rising demand for ship repair services and provide long-term value to stakeholders.