As featured in The Edge.
Integrated marine logistics company Marco Polo Marine announced, on June 14, that it intends to extend its dry dock 1 from 150 metres to 240 metres.
The extension will boost the group’s capacity for ship repairs by 20%.
The move is meant to improve the group’s bottom line over the longer term, as its ship repair operations have been a growing source of recurring income.
According to the group, some 50% to 70% of its ship repair operations business has come from repeat customers.
For the 1HFY2021 ended March, the group’s ship building and repair operations business saw a 34% y-o-y increase in revenue to $11.7 million, accounting for some 55% of the group’s overall top line.
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