Indonesia-based BLT had in March temporarily ceased re-payments on all the company's bank loans and bonds and payment on ship leases and similar obligations of its subsidiaries in order to rationalise its operational activities and restructure its financial agreements with all involved parties.
Singapore-listed ASL rounded up its financial year 2012 with a marginal 1.3% year-on-year gain in net profit to S$32.33m and revenue rose 7.7% to $391.22m.
Looking ahead, ASL is seeing increased activity in the sale-and-purchase of offshore support vessels, in particular smaller platform supply vessels (PSVs) and larger anchor handler tug supply (AHTS) vessels, whilst the traditional shipping markets, such as bulk and containers, continue to suffer.
“With the continued investment by oil companies in deepwater exploration and production activities, we expect there to be continued demand for offshore production vessels,” the company said.
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