Penguin International Limited announced on Mar, 02 2026 that all personnel and vessels in the Middle East remain safe and fully operational despite ongoing regional hostilities.

The company said 11 of its global fleet of 34 crewboats are deployed in Saudi Arabia and Abu Dhabi; the crews and local shore staff have all been accounted for.

Middle-East revenue contributed 32.9 million Singapore dollars, or 12.3% of group revenue in FY2025, while the remainder came from Europe (56.3 million Singapore dollars, 21.1%), Africa (51.3 million Singapore dollars, 19.2%), Singapore (45.8 million Singapore dollars, 17.2%) and the rest of Southeast Asia (40.0 million Singapore dollars, 15.0%).

Penguin reported no imminent vessel deliveries to the Middle East. Deliveries to Africa and Europe will continue via the Cape of Good Hope, avoiding the Red Sea and Suez Canal.

The builder-operator added that it has secured sufficient raw materials and critical equipment to keep its stock-vessel programme running through late 2026 and does not expect significant logistics delays, although it cautioned that wider conflict escalation could disrupt global shipping, raise insurance costs and increase fuel and material prices.

The board said it will keep monitoring developments and advised investors to exercise caution when dealing in the company’s shares.