Marco Polo Marine has won a 15-year charter contract worth NT$2.948 billion, or $118 million in Taiwan.
The contract was won from Taiwan's Marine Port Bureau via its indirect subsidiary, PKR Offshore Co, to provide one emergency tug boat or salvage vessel to support Taiwan's maritime.
This contract, which will commence by June, will help support Marco Polo's recurring income stream.
This is also PKRO's first long-term government charter contract.
“Beyond its commercial value, this contract plays a meaningful role in strengthening Taiwan's maritime safety infrastructure and supporting the growth of its offshore wind sector," says Sean Lee, Marco Polo's CEO.
"We look forward to contributing to these objectives while delivering stable, long-term returns to our
shareholders," he adds.
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Marco Polo Marine shares closed at 15 cents on March 17, up 4.79%
