Offshore rig

Singapore’s Sembcorp Marine (Sembmarine) recorded an SGD14.1 million net profit for 2017, down sharply from SGD78.8 million in 2016. 

The Oslo Stock Exchange

EMAS Offshore Limited will appeal a delisting decision by the Oslo Stock Exchange,  saying it would be detrimental to its restructuring efforts. 

Offshore supply vessel

The tide may finally be turning for the Middle East’s offshore support vessel market, which has struggled since 2016.

US investment manager EIG filed a new lawsuit against Keppel O&M. Credit: Keppel O&M

Investment manager EIG Management Company, LLC (EIG) has filed a new lawsuit against Singapore’s Keppel Offshore and Marine (O&M) in the United States District Court, Southern District of New York, in connection with the high-profile Sete Brasil case.

Lee Kian Soo, Triyards chairman and one of the founders of the Ezra Group

Singapore asset manager extends USD5 million lifeline to Triyards and gets first right of refusal for further restructuring. 

An offshore construction vessel, Chang De, formerly known as Teras Sunrise

Singapore’s Ezion restructuring is on track, having secured a six-year, USD1.5 billion refinancing package while CEO Chew Thiam Keng and his family offer 100 million personal shares.

Vroon platform supply vessel VOS Passion

The Dutch offshore services group has been hit by weak demand and must now come to an agreement with its creditors.

Singapore authorities investigate former Keppel executives in connection with the recent Brazil bribery probe. Credit: G Paul Gunton

Former Keppel executives have been arrested as Singapore authorities investigate bribery allegations in Brazil. Last month, the company was fined USD422 million in a global resolution with Brazil, Singapore, and the United States. 

Gulf Navigation operates a fleet of chemical/product tankers, and Gulf Huwaylat (pictured) is one of them. Credit: Olaf Schmidt

Dubai-based Gulf Navigation Holding PJSC announced it is in discussions to acquire a majority stake in the Singapore-listed, UAE-based Atlantic Navigation Holdings.

Keppel O&M

Keppel O&M was SGD835 million (USD639 million) in the red for fiscal year 2017, after making a one-time provision of SGD619 million for graft penalties.