Singapore offshore vessel player and shipyard Marco Polo Marine has secured two new contracts following the expansion of its dry dock capacities.

The first deal is a three-year master service agreement with Cyan Renewables for ship repair and maintenance.

Under this agreement, Marco Polo will provide comprehensive ship repair, maintenance, and conversion services for Cyan Renewables’ fleet of offshore wind vessels.

The contract follows the company’s successful launch of its fourth dry dock. Looking ahead, the dry dock is projected to have a positive impact on Marco Polo’s shipyard revenue and overall growth for the final quarter of financial year 2025 and into financial 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 S$5m ($3.9m) with an undisclosed client, also in the new dry dock. The designated vessel is scheduled to arrive at the yard by the end of August and will undergo repairs over an estimated period of two months.