- Active fleet expansion indicates Marco Polo Marine (SGX:5LY)’s confidence in growing its future orderbook. Maintain BUY.
Adding two new AHTS; expected to complete in 2026.
- - Read this at SGinvestors.io -
- In line with Marco Polo Marine's diversification strategy, they are also capable of being deployed to Northeast Asia to support offshore wind farm projects as new opportunities arise.
Second CSOV expected to complete in 2028.
- - Read this at SGinvestors.io -
- Unlike standard CSOVs with retrofitted walk-to-work systems, this vessel is the first purpose-built designed from the keel up for dual-sector operations in the offshore wind and oil & gas sectors. The CSOV Plus supports the complete lifecycle of offshore wind projects, from construction and cable installation to repairs, maintenance, and technician transfer for commissioning and ongoing operations. Its comprehensive capabilities enhance its versatility, enabling the CSOV Plus to be deployed not only in the offshore wind sector but also in the oil & gas sector.
- Upon completion in 2Q28, we expect earnings contribution of more than US$6m based on a conservative assumption.
Chartering orderbook of S$100m provides earnings visibility.
- Read more at SGinvestors.io.
