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got addition at 48 liao.
looks weak atm. average 48.5 now kns.
looks weak atm. average 48.5 now kns.
ssw518 ( Date: 23-Aug-2023 13:39) Posted:
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another chances to load? Very strange to drop so much when oil still above 80
add a bit more for me, hard to get this one below 50.
Company' s cash itselt already 51m vs total liability of 36m.
add a bit more for me, hard to get this one below 50.
Company' s cash itselt already 51m vs total liability of 36m.
FrancisLim ( Date: 22-Aug-2023 12:14) Posted:
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The BB shaking out the week holders. This is a BB controlled counter.
good news coverage tank even worst.....
nvm i add at 49.
nvm i add at 49.
ssw518 ( Date: 17-Aug-2023 10:26) Posted:
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Winds of change for oil-slump survivor Marco Polo Marine
AFTER enduring back-to-back slumps in the oil and gas sector from 2014 to the pandemic years, shipping firm Marco Polo Marine seems to have taken key steps to future-proof itself. And the rewards are showing.
A week ago, the mainboard-listed company, which counts shipyard and ship chartering as core businesses, issued its report card for the nine months to June 2023. Revenue for the year rose 65 per cent to S$93 million while gross profit improved 47 per cent to S$14.2 million.
Higher energy prices and a bustling offshore landscape, plus continued tight supply in the offshore support vessels (OSV) market, have lifted utilisation rates over the third quarter to 92 per cent &ndash up eight percentage points from a year ago.
Similarly, as shipbuilding and ship repair activity ramped up for the quarter, Marco Polo : 5LY -1.92%&rsquo s yard in Batam, Indonesia, operated at an average utilisation rate of 93 per cent &ndash a nine percentage point increase compared to the same period last year.
Rosy patch
Perhaps the rosiest patch in the group&rsquo s prospects now is its bet on the offshore wind sector &ndash a space bustling with as much promise as activity amid the green energy transition, which the firm embarked on to dull the sting of the volatile oil and gas sector.
According to a report released in November last year by the World Economic Forum, an estimated US$1 trillion will flow into the offshore wind industry over the next decade.
The International Renewable Energy Agency estimates that by 2050, Asia will be a global leader in wind power and will account for over 60 per cent of all offshore wind capacity installed globally.
In May last year, Marco Polo took a big step towards this end and scooped up PKR Offshore, a vessel owner based in Taiwan &ndash one of Asia&rsquo s most prolific offshore wind markets. The diversification has provided a new utilisation base for the group&rsquo s vessels and hence has boosted the vessel charter and utilisation rates of the group.
Although the specifications differ from those used in oil and gas exploration projects, the vessels can be deployed to support key stages in wind farm installation and construction without additional capital expenditure, said Marco Polo in its latest annual report.
Chartering hope
Marco Polo&rsquo s ship chartering business, which contributed around 60 per cent to the group&rsquo s top line 10 years ago, had begun taking a backseat to shipbuilding and repairs following oil&rsquo s downturn from 2015 onwards.
However, in FY2022, the ship chartering business was back to pulling its weight, contributing nearly S$45 million to group revenue, versus S$41 million from the shipbuilding and repairs segment.
Contributions from chartering surged more than twice in 2022 from the year before, mainly owing to the consolidation of results of Indonesia&rsquo s PT Pelayaran Nasional Bina Buana Raya (PT BBR) and PKR Offshore from March and May 2022 onwards, respectively. (Marco Polo raised its interest in PT BBR to a majority stake last year following the completion of a rights issue to offer customised solutions for the offshore oil and gas sector.)
Strong winds
It is worth noting that, by end-FY2022, about 40 per cent of Marco Polo&rsquo s offshore fleet was deployed to support the burgeoning demand from offshore wind farm projects in the Asia-Pacific region.
The firm is constructing its own Commissioning Service Operation Vessel (CSOV), which will be integrated into its fleet around Q3 FY2024. Once this pans out, it will also step up the company&rsquo s game in catering to the unique requirements of the offshore wind farm industry, chiefly in Taiwan, Japan and South Korea.
According to RHB Research in a May report, Marco Polo remains in a &ldquo sweet spot&rdquo to deploy and operate its first CSOV, particularly in an environment where such vessels are in short supply as bank financing for new vessels is tight while older vessels are being scraped.
The house estimates that there are around 800 vessels currently, down from some 1,000 previously, that serve both the offshore wind farms and O& G sectors. Furthermore, it said the offshore wind sector is facing a shortage of tier-1 CSOVs with only 10 operating &ndash mainly deployed in Europe &ndash while another 30 or so are in the pipeline.
Marco Polo, which is sitting on a cash pile of S$53 million, has spent four out of the past 10 years in losses, and is likely en route to its third straight year of being in the black.
Healthy chartering and utilisation rates plus new contracts and more repair jobs are keeping hopes high for the firm&rsquo s prospects. But if past downturns have taught the company anything, it&rsquo s that the good times could turn very quickly. In a slowing economy such as now, it&rsquo s a lesson to constantly bear in mind.
waiting for UOB to start this engine after Frencken is done? target 60
Company SH collected at 54
dyodd.
Company SH collected at 54
dyodd.
Marco Polo Marine records 28.9% y-o-y increase in revenue of $36.8 million for 3QFY2023
Marco Polo Marine 5LY 0.00% has reported a revenue of $36.8 million, up 28.9% y-o-y for the 3QFY2023 ended June 30 on the backing of strong performance from both ship catering and shipyard business.
The group&rsquo s 9MFY2023 revenue came in at $92.7 million, a 65% increase y-o-y due to the full consolidation of results from the Pelayaran Nasional Bina Buana Raya (BBR) and PKR Offshore (PKRO).
Gross profit increased 47.2% y-o-y, amounting to S$14.2 million during the same period, with gross profit margin improving by 38.7%.
Marco Polo Marine&rsquo s ship catering segments experienced positive developments as the Offshore Vessel (OSV) market continued to recover, driven by favourable energy prices, increased offshore field development, and supply-side constraints for OSVs.
In a report dated Aug 16, the group says that there has been a notable increase in demand for OSVs during the quarter, leading to an 8 percentage points (ppt) y-o-y rise in utilisation rates, reaching an impressive 92% operating capacity for the period.
Contributions from Pelayaran Nasional BBR and Taiwan-based offshore renewables service PKRO have further boosted vessel charter and utilisation rates from March and May of 2022, respectively.
Similarly, its shipyard segment saw strong demand from its end users, with shipbuilding and ship repairs activity ramped up for the quarter with average utilisation rates for ship repairs operating at nearly full capacity.
The segment' s shipyard was operating at an average utilisation rate of 93%, showing a 9 ppt increase compared to the same period last year.
As at March 31, the group had a net cash position of $50.2 million, and a net asset value of 4.3 cents per share. The group&rsquo s assets are primarily backed by hard assets including cash and property, plant and equipment (PPE).
The group notes that the OSV market in Southeast Asia continues to show signs of strength driven by the same few factors that resulted in its positive developments for this 3QFY2023.
&ldquo We maintain our strong operating performance in 3QFY2023 as we continue to observe increasing shipbuilding and ship chartering demand in the region,&rdquo said Sean Lee, chief executive officer of Marco Polo Marine. &ldquo Notwithstanding any unforeseen circumstances, we anticipate a positive finish to the year.&rdquo
Voluntary Business Updates
&bull 3QFY2023 revenue increased 28.9% y-o-y to S$36.8 million
&bull 9MFY2023 revenue surged 65.1% y-o-y to S$92.7 million1
&bull Ship chartering segment saw continual improvement in average charter rates
and utilisation rates for its vessels on a y-o-y basis
&bull Shipyard revenue also grew due to an increase in shipbuilding and ship repair activities
&ldquo We maintain our strong operating performance in 3QFY2023 as we continue to observe increasing shipbuilding
and ship chartering demand in the region,&rdquo said Sean Lee, CEO of Marco Polo Marine.
&ldquo Notwithstanding any unforeseen circumstances, we anticipate a positive finish to the year.,&rdquo he added.
dyodd
&bull 3QFY2023 revenue increased 28.9% y-o-y to S$36.8 million
&bull 9MFY2023 revenue surged 65.1% y-o-y to S$92.7 million1
&bull Ship chartering segment saw continual improvement in average charter rates
and utilisation rates for its vessels on a y-o-y basis
&bull Shipyard revenue also grew due to an increase in shipbuilding and ship repair activities
&ldquo We maintain our strong operating performance in 3QFY2023 as we continue to observe increasing shipbuilding
and ship chartering demand in the region,&rdquo said Sean Lee, CEO of Marco Polo Marine.
&ldquo Notwithstanding any unforeseen circumstances, we anticipate a positive finish to the year.,&rdquo he added.
dyodd
| spursfan ( Date: 17-Aug-2023 08:50) Posted: |
With opec remaining same output for 1 more month,
US high drawn out, lower stockpile, china to stem up economy in Q3.
oil likely going higher once US / China economy continue to pick up strength with
higher demand of oil. 60 in sight anytime, anything below 55 should be given.
my view dyodd.
US high drawn out, lower stockpile, china to stem up economy in Q3.
oil likely going higher once US / China economy continue to pick up strength with
higher demand of oil. 60 in sight anytime, anything below 55 should be given.
my view dyodd.
ssw518 ( Date: 03-Aug-2023 07:56) Posted:
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worth a small punt.
dyodd
Oil settle lower despite record US crude stock drawdown , Energy & Commodities - THE BUSINESS TIMES
dyodd
Oil settle lower despite record US crude stock drawdown , Energy & Commodities - THE BUSINESS TIMES
ssw518 ( Date: 02-Aug-2023 23:28) Posted:
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EIA crude stock pile changes came in -17m vs -1.4m expected.
good or bad you decide, minimum keep eye close on oil related counter
for fifo.
dyodd
good or bad you decide, minimum keep eye close on oil related counter
for fifo.
dyodd
Stocky901 ( Date: 02-Aug-2023 17:28) Posted:
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High volumes selling down.. all stuck dead..😦
Huataarrhh ( Date: 12-Jun-2023 09:10) Posted:
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UOB Kayhian upgrade today
Marco Polo Marine (MPM SP) Encouraging Times Ahead MPM has improved its financials on higher fleet charter and utilisation rates, as well as contributions from its Taiwan-based JV and Indonesian subsidiary acquired in FY22. Minimal newbuilds and increased demand in Asia have also driven up charter rates. With this, together with its strong balance sheet and expansion efforts in the offshore windfarm sector with the construction of its CSOV, MPM is poised to benefit in the coming years. Upgrade to BUY with a 25% higher target price of S$0.060.
Marco Polo Marine (MPM SP) Encouraging Times Ahead MPM has improved its financials on higher fleet charter and utilisation rates, as well as contributions from its Taiwan-based JV and Indonesian subsidiary acquired in FY22. Minimal newbuilds and increased demand in Asia have also driven up charter rates. With this, together with its strong balance sheet and expansion efforts in the offshore windfarm sector with the construction of its CSOV, MPM is poised to benefit in the coming years. Upgrade to BUY with a 25% higher target price of S$0.060.
Marco Polo Marine
On May 29, Marco Polo Marine : 5LY 0% (MPML) non-executive director Darren Teo Junxiang acquired 1.5 million shares at S$0.05 per share. With a consideration of S$75,000 this increased his total interest in the integrated marine logistics company from 16.17 per cent to 16.21 per cent.
He is currently the managing partner of Apricot Capital, a private investment company with business interests in real estate, offshore marine, education and consumer lifestyle business. These business interests include a 16.17 per cent interest in MPML. This accounts for Teo&rsquo s deemed interest in MPML, given that he indirectly owns 20 per cent of the issued and paid-up share capital of Apricot Capital.
Teo&rsquo s responsibilities at the private investment company include evaluating investment opportunities, executing strategic deals and managing the investment portfolio.
On May 11, MPML reported its H1FY23 (ended Mar 31) revenue at S$55.9 million, more than double its H1FY22 revenue. The significant increase was attributed to the outstanding performance of both the ship chartering and ship building & repair operations.
For H1FY23, ship building & repair operations contributed 56 per cent of total revenue while the other 44 per cent came from ship chartering.
As a result of the growth in both segments, MPML&rsquo s H1FY23 gross profit surged to S$17.7 million, a 116 per cent increase from H1FY22.
MPML CEO Sean Lee noted that the ship chartering and shipyard operations experienced strong growth due to increased demand and also as a result of the group&rsquo s expansion plans.
He added that the offshore windfarm sector continues to present vast potential for the group, with positive momentum expected to continue into the second half of 2023 and beyond, delivering sustainable growth and value to stakeholders.
SS bought 1.5 mil at $0.05 on 30 May 2023.
For info
For info
Roller coaster, not for the faint heart.
In its recent results, incurred loses in investments and receivables write off
In its recent results, incurred loses in investments and receivables write off
Journey of a thousand miles begins with each small steps. Any baby step rise build up confidence & a feel good factor.
I begin with an end in mind to see MPM as the next Samudera potential. Not forgetting the latter was also a few cents penny stock just some years back.
Vested
I begin with an end in mind to see MPM as the next Samudera potential. Not forgetting the latter was also a few cents penny stock just some years back.
Vested
stockbel ( Date: 22-May-2023 11:00) Posted:
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marco polo rise
Buy at your own comfort level.
And if you are like me who believes in its resurrection & long term, then current 0.051 is immaterial & will be history soon.
Vested & waiting to load up once my cpf investible amount is refreshed.
And if you are like me who believes in its resurrection & long term, then current 0.051 is immaterial & will be history soon.
Vested & waiting to load up once my cpf investible amount is refreshed.
AttasBoss ( Date: 21-May-2023 10:32) Posted:
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