Marco Polo Marine Ltd suffered loss of S$304.23 million in third quarter (Q3) this year, compared to loss S$6.41 million only in Q3 last year. Revenue had been maintained at S$9.1 million, but fell 12% for nine month (9M) period to US$33.34 million from previous US$38.08 million. Revenue for the Group’s Ship Chartering Operations increased by 50% to S$3.9 million in Q3 this year, due mainly to improve in utilization of the Group’s fleet of tugboats and barges. Revenue for the Ship Building & Repair Operations decreased by 20% to S$5.2 million, attributed mainly to decrease in dry-dock and repair jobs. On a nine-month basis, the Ship Building & Repair Operations recorded a decrease of 15% in revenue to S$20.9 million in 9M this year, due primarily to reduced ship building projects. The Group is regional integrated marine logistic company principally engaged in shipping and shipyard businesses.
