![]() In this segment, the revenue rose due to a significant increase in average charter rates and average utilisation rates for vessels, as well as consolidation of revenue from PT BBR and PKRO in which Marco Polo Marine holds a 70.7 per cent and 49 per cent stake, respectively. The shipyard was operating near full capacity in the third quarter, at an average utilisation rate of 86 per cent, the company says, with the revenue increase being a result of higher ship repair activities, stronger demand from end customers, and higher capacity following the completion of extension works on Dry Dock 1 in the second quarter of the year.įor the ship chartering segment, there was a strong demand driven by both the oil and gas and offshore wind sectors, the company said. The company says that both its shipyard and ship chartering segments “experienced tremendous growth”, leading to the significant jump in revenue. In terms of gross profit, Marco Polo also posted an increase of 185.3 per cent for the third quarter and 111.9 per cent for the nine months. ![]() On 18 August, the company published its results for the third quarter, as well as the nine months, of the fiscal year, which also show an increase of 70.3 per cent in revenue for the past nine months, compared to the same period of the previous fiscal year. Singapore-based shipbuilder and vessel provider to the oil and gas and offshore wind sectors, Marco Polo Marine, has reported a 139.5 per cent increase in revenue for the third quarter of the fiscal year, partly driven by a significant increase in average charter rates.
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