Listed on the Singapore Exchange (SGX:S68
) ’s (SGX) mainboard since 2007, Marco Polo is a well-known player in the offshore space, operating its two business segments of ship chartering, and ship building and repair.
Against the backdrop of an unpredictable macroeconomic outlook, Marco Polo Marine (SGX:5LY) group CEO Sean Lee has begun pivoting the group’s business away from the cyclical nature of oil.
“We are very sensitive towards oil and the price of oil, and that affects realisations at the end of the day. But today, we are actually putting a lot more effort into windfarms. These kinds of projects do not suffer from the same effects,” says Lee.
