Industry Sectors:Offshore

Offshore

Fast on the heels of its failed consolidation cum fund raising exercise with Icon Offshore and Orkim, UMW Oil and Gas (UMW-OG) is now planning to make a cash call.
MISC saw first quarter net profit rise 18% to MYR676.2m ($155.9m) from MYR571m in the previous corresponding period on a 25% spike in revenue to MYR2.98bn MYR2.39bn previously.
The announcement of a strategic review by Sembcorp Industries of its businesses has sparked renewed speculation of a merger of its shipyard business Sembcorp Marine with rival Keppel Corp.
GAC Abu Dhabi has completed the preparation, construction and relocation of a logistics base dedicated to supporting Paragon Offshore's operations.
Revenues continued to decline for offshore vessels owner Bourbon in Q1 this year down 7.7% on the previous quarter as improved oil prices failed to boost activity.
Maersk Maritime and Dubai Maritime City Authority (DMCA) have met to explore new opportunities to collaborate on projects and initiatives in the maritime industry. 
Last week Keppel Shipyard held a naming ceremony for its 12th FPSO to BW Offshore.
Indonesian offshore marine services player Wintermar Offshore Marine saw first quarter net loss widen to $4m from $1.4m in the previous corresponding period as the oil industry slowdown kicked in.
Singapore-listed Marco Polo Marine has suspended its shares from trading as it fails to reach agreement on refinancing and restructuring with some if its lenders.
Kawasaki Kisen Kaisha (K Line) reported a hefty loss of JPY139bn ($1.24bn) for FY2016 ended 31 March 2017 hit by restructuring losses and impairments.
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