Marco Polo Marine inks maiden ship repair deal for fourth dry dock

The company also bagged a ship repair and maintenance agreement.

Marco Polo Marine has launched its fourth dry dock and secured its inaugural ship repair contract.

In a bourse filing, the company said the project is valued at approximately $5m. The designated vessel is scheduled to arrive at the yard by the end of August and will undergo repairs over an estimated period of two months

“Looking ahead, Dry Dock 4 is projected to have a positive impact on the group’s shipyard revenue and overall growth for the final quarter of fiscal year (FY) 2025 and into FY 2026,” Marco Polo Marine said.

The company’s wholly owned subsidiary, Marco Polo Shipyard Pte Ltd, also secured a three-year Master Service Agreement with Cyan Offshore Asia Pte Ltd. Under this agreement, the unit will provide comprehensive ship repair, maintenance, and conversion services for Cyan Renewables’ fleet of offshore wind vessels.

This partnership underscores Marco Polo Marine’s pivotal role in advancing sustainable energy solutions, aligning with global efforts to accelerate the transition toward a greener, low-carbon future.

“With increased dry dock capacity, we are not only equipped to meet rising demand but also poised to deliver long-term value to our customers and stakeholders as the industry evolves,” said Sean Lee, CEO of Marco Polo Marine.