Marco Polo Marine's focus on renewables is paying off even as oil prices recover

Singapore

MARCO Polo Marine suffered a near-death experience when oil prices tanked in 2015 and 2016. But after a debt restructuring in 2017, the vessel charterer and shipyard operator has reduced its reliance on the oil and gas industry.

"We saw that the oil and gas sector was not going to come back any time soon but the dry docks are still there so we had to fully utilise it," said Marco Polo Marine's chief executive Sean Lee during a recent interview with The Business Times.