From ship chartering (above), Marco Polo has moved onto shipbuilding. Ship repair will be next.
SHIPBUILDING BOOMS inevitably lead to shortages for ship repair facilities.
This is because yard space is so scarce during shipbuilding booms that yard owners with a waiting list for newbuilding orders would want to yield too much space to expand repair facilities to accommodate the huge jump in global fleet size.
The result? Fat ship repair margins now, as ship managers and owners compete for drydock space during mandatory upkeep of their vessel hulls every 3-5 years.
In view of this, Marco Polo, a new shipyard (no waiting list of newbuilding orders into 2012) will open its first drydock next month.
