More than 68 million shares have changed hands as at 10.52 am

 

[SINGAPORE]   Marco Polo Marine   : 5LY 0% shares surged on Thursday (Sep 18) morning after the integrated marine logistics company announced that it clinched S$100 million in order book wins. 

 

It was one of the most heavily traded counters on the Singapore Exchange (SGX) before midday. 

 

The stock rose to S$0.08 as at 9.56 am, with 54.5 million shares changing hands. This was 6.7 per cent or S$0.005 higher than its S$0.075 closing price on Wednesday. 

 

It was the second most heavily traded stock on the SGX as at 10.52 am, with close to 68.4 million shares transacted. By then, it had eased to S$0.078, still up from Wednesday&rsquo s close by 4 per cent or S$0.003. 

 

The company announced on Wednesday that it had secured ship-chartering order book contracts worth around S$100 million as at Jun 30 &ndash the end of its third quarter.  

 

Additionally, the completion of its fourth dry dock will enhance shipyard capacity and is expected to contribute to its performance for the fourth quarter of the 2025 financial year and in FY2026, the group said in the update on its ship-chartering operations. 

 

In August, the company reported that its Q3 gross profit dropped 4 per cent to S$14 million, from S$14.6 million a year earlier. Its gross earnings declined despite profit margin rising to 44 per cent from 42 per cent. Revenue also dropped 9 per cent to S$31.7 million from S$34.9 million in Q3 2024, driven by lower contributions from its shipyard operations and rechartering income from third-party vessels in Taiwan. 

 

In the Wednesday update, the group noted that revenue from rechartering vessels in Taiwan &ldquo remains subdued&rdquo amid project phasing. 

 

However, the addition of new crew-transfer vessels and the income from the commissioning of service operation vessel Wind Archer &ndash which began generating income in April &ndash are expected to contribute for the rest of FY2025 and in FY2026, it added. 

 

Marco Polo Marine has secured contracts worth $100 million spanning over the next three years, according to a release dated Sept 17.

 

The group says that this reflects on its diverse fleet deployment across high-growth sectors including offshore oil & gas and renewable wind energy.

 

Marco Polo Marine says that strong auction activity in major markets like Europe and China will benefit sustained demand for more specialized marine vessels, particularly in North Asia where Commissioning Service Operation Vessels (CSOV) and Crew Transfer Vessels (CTV) are deployed.

 

In ship chartering, revenue from rechartering vessels in Taiwan remains subdued due to project phasing, but new CTV additions and income from the CSOV " Wind Archer" since mid-April are expected to contribute through the rest of this year and in FY2026.