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Singapore-based ASL Marine has embarked on a build-to-stock shipbuilding program valued at SGD85m ($68m) for five offshore vessels, as it seeks to meet healthy demand for offshore support vessels (OSVs) and to counter increasingly stiff competition in the offshore shipbuilding sector.

Offshore vessel owner and operator Pacific Radiance is looking to raise $124.5m from an initial public offering (IPO) on the Singapore Exchange to fund its expansion plans

Singapore-based Jaya Holdings reported lower earnings in the first quarter of 2014 over the previous corresponding quarter.

Offshore services provider Ezra Holdings has grabbed $110m worth of project deals in subsea construction and offshore support services in the Gulf of Mexico and Asia Pacific.

Viking Supply Ships has entered into a $120m contract for the charter of four Anchor Handling Tugs to “a major oil company”.

India’s demand for crude oil and gas is projected to increase by 3% in the financial year 2013-14, even as the country’s production is currently steady at 0.76m barrels per day (bpd).

Investment in Indonesia's offshore marine services is set to grow between 50% and 100% a year, the Indonesian National Shipowners Association (INSA) was quoted as saying in local media.

China-based shipbuilder JES International has secured a loan facility of up to $40m from a US-based private investment fund.

Njord Offshore has confirmed an option for two further crew transfer and service vessels, amounting to a total of eight vessels, from shipbuilder Strategic Marine.

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