Marco Polo Marine (SGX:5LY) expects its new CSOV, Drydock 4, and three CTVs to start contributing to earnings from the second half of fiscal 2025, according to a Friday filing on the Singapore Exchange.
Revenue in the December 2024 quarter fell 11% to SG$25.8 million due to weaker ship chartering and shipyard performance. Gross profit slipped 9% to SG$10.6 million, though margins improved to 41% from 40%.
Ship chartering revenue dropped 13% on lower third-party vessel demand in Taiwan, while shipyard revenue fell 9% as shipbuilding slowed. Yard utilization, however, rose to 83%.
The group expects full benefits from these investments in fiscal 2026.
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