Marco Polo Marine Q1 gross profit jumps 32% on wind fleet expansion

Fleet additions support revenue gains and operational efficiency.

Marco Polo Marine Ltd. recorded a 32% increase in gross profit to $14.0m for the first quarter ended 31 December 2025, achieving a gross profit margin of 43%.

Total revenue rose 27% to $32.8m, driven by a 53% jump in ship chartering revenue to $23.2m. Fleet utilisation reached 76%, up from 71% in the previous year.

The company attributed chartering growth to fleet additions in the second half of financial year 2025, including the commissioning service operation vessel MP Wind Archer and three crew transfer vessels.

Shipyard revenue declined 9% to $9.6m due to fewer shipbuilding projects, partially offset by higher ship repair activity.

The group is developing a second commissioning service operation vessel (CSOV), the CSOV Plus, with Salt Ship Design AS. The MP Wind Archer also received the Offshore Energy Vessel of the Year Award 2026.