Marco Polo Marine (5LY) on Jul, 9 2026 reported a 13% year-on-year increase in third-quarter FY2026 revenue to 35.7 million Singapore dollars, supported by stronger performances from both its Ship Chartering and Shipyard divisions. Gross profit rose 7% to 15.0 million Singapore dollars, with the gross profit margin at 42% versus 44% a year earlier.

For the nine months to Jun, 30 2026, revenue climbed 30% to 109.7 million Singapore dollars while gross profit also advanced 30% to 46.4 million Singapore dollars, keeping the margin steady at 42%.

Segmentally, Ship Chartering revenue grew 8% year-on-year, aided by higher fleet utilisation of 72% in the quarter, up from 65% in 2Q FY2026. Shipyard revenue expanded 23% on the back of increased repair volumes and additional capacity from a new fourth dry dock.

The group held a net cash position of 46.9 million Singapore dollars as at Mar, 31 2026. Management flagged an “optimistic” outlook for FY2026, citing firm demand from offshore oil & gas and growing activity in offshore wind. Two new anchor-handling tug supply vessels are slated for delivery in 2026, while a recently secured contract worth about 198 million Singapore dollars to build an oceanographic research vessel is expected to bolster the order book.

Marco Polo Marine is also pursuing strategic initiatives, including the planned listing of subsidiary PKR Offshore in Taiwan, a proposed reverse takeover of its shipyard assets at up to 139 million Singapore dollars, and a framework agreement with Siemens Gamesa for two additional commissioning service operation vessels slated for delivery from 2028.