Singapore’s Sembcorp Marine (Sembmarine) recorded an SGD14.1 million net profit for 2017, down sharply from SGD78.8 million in 2016.
EMAS Offshore Limited will appeal a delisting decision by the Oslo Stock Exchange, saying it would be detrimental to its restructuring efforts.
The tide may finally be turning for the Middle East’s offshore support vessel market, which has struggled since 2016.
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.
Singapore asset manager extends USD5 million lifeline to Triyards and gets first right of refusal for further restructuring.
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.
The Dutch offshore services group has been hit by weak demand and must now come to an agreement with its creditors.
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.
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 was SGD835 million (USD639 million) in the red for fiscal year 2017, after making a one-time provision of SGD619 million for graft penalties.