Embattled Nam Cheong has made asset impairments and writedowns of MYR1.88bn ($444m) during the second quarter, sending the OSV builder into a first half loss of MYR2.07bn.
Bankrupt Swissco Holdings has announced the provisional liquidation of its wholly-owned Scott and English Energy (S&E) due to its inability to carry on its operations.
Singapore’s OSV player Vallianz is continuing to ride on offshore activities coming from the Middle East market as the company looks to deploy more vessels into the region this year…
Singapore-listed Ezion Holdings has suspended the trading of its shares as it revealed that the company is in talks with various stakeholders for a financial restructuring.
Financially strapped Malaysian offshore player Nam Cheong Ltd (NCL) has been hit with a Writ of Summons by creditor AmBank.
Brazilian company GranInvestimentos and Dutch company Royal IHC are joining forces to deliver innovative and integrated life cycle solutions to customers in the oil and gas sector.
SBM Offshore says it seeing gradual recovery in the offshore services market as cost deflation improves the breakeven for deepwater projects.