10 Questions with Marco Polo Marine CEO Sean Lee

Investors may be well familiar with the major rig builders and the Chinese shipyards listed on the Singapore Exchange, but a special group of integrated marine companies have not been hitting their radar screens in the same way. ASL Marine, Marco Polo Marine, Otto Marine, Penguin International and Swissco are among the few Singapore based small and mid-cap companies that have been expanding steadily over the past few years and many of them have diversified revenue streams from their shipbuilding/ship repairing and ship chartering operations in Southeast Asia. In this edition of Marine Money, we speak to Mr. Sean Lee, Chief Executive Officer of Marco Polo Marine.

Marco Polo Marine has its roots in shipping as early in 1991 when management saw the opportunity to ride on the increasing demand for commodity transportation services in Indonesia. In 2006, under the stewardship of Mr. Sean Lee, Marco Polo Marine found a niche in the transportation of coal. Driven by rapid economic development and population growth, energy demand in Indonesia has been rising rapidly and coal has become an increasingly important resource for the country. The exponential growth in coal production, from barely 2 million tons in 1985 to over 200 million tons today, has further spurred the demand for coal transportation services by tugs and barges. In 2007, the company saw its successful listing in Singapore where it raised SGD 15.0 million (USD 11.7 million) on the Singapore Exchange.

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