Swissco recorded a second quarter net profit of SGD2.04m ($1.61m), a plunge of 51.8% compared to SGD4.24m in the same period of last year.
Revenue during the quarter also dived 51.8% year-on-year to SGD10.24m.
“Marine services segment registered fewer transactions in the second quarter of 2013 and the ship repair business also completed fewer repair jobs for third party vessels in the second quarter of 2013 compared to the second quarter of 2012,” Singapore-listed Swissco said.
The company also disposed three vessels, one crew boat, one utility vessel and an anchor handler, leading to fewer vessels available for charter and lower charter revenue.
Swissco remains committed to grow its vessel chartering business with construction of new and better specification vessels under its fleet renewal program,
Vessels under construction include seven anchor handling tugs, two utility vessels, two crew boats and one accommodation vessel.
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