Singapore-based offshore vessel operator and shipbuilder Marco Polo Marine has secured two new vessel repair contracts following the completion of its dry dock expansion.
The first contract was signed with Cyan Renewables for a period of three years, covering ship repair and maintenance services.
Under the agreement, Marco Polo Marine will provide comprehensive ship repair, maintenance, and conversion services for Cyan Renewables’ offshore wind fleet.
The contract follows the successful commissioning of Marco Polo Marine’s fourth dry dock. In the future, the dry dock is expected to have a positive impact on the shipyard’s revenue and overall growth in the fourth quarter of fiscal year 2025 and fiscal year 2026.
“The partnership with Cyan Renewables underscores our strategic commitment to the renewable energy sector while expanding our shipyard’s capabilities. With increased dry dock capacity, we are not only equipped to meet rising demand but also poised to deliver long-term value to our customers and stakeholders as the industry evolves,” said Sean Lee, CEO of Marco Polo Marine.
The second contract is a ship repair contract worth approximately US$3.9 million. The identity of the customer has not been disclosed, and the repair work will also be carried out in the newly commissioned dry dock. The designated repair vessel is scheduled to arrive at the shipyard by the end of August, with an estimated construction period of approximately two months.