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EMAS Offshore suspended from trading in Oslo and SingaporeEMAS Offshore suspended from trading in Oslo and Singapore

Embattled Ezra Holdings operating unit EMAS Offshore has been suspended from trading on both the Singapore Exchange and Oslo Bors.

Marcus Hand, Editor

March 6, 2017

1 Min Read
Kalyakan - stock.adobe.com

The dual-listed offshore stock was suspended from trading on the Oslo Bors the Financial Supervisory Authority of Norway on Friday. The suspension was imposed for the failure by EMAS Offshore to submit an audited annual report for 2016, the deadline for which 31 December 2016.

As result the company's shares were also suspended from trading on SGX today 6 March.

Last week associate company, joint venture EMAS Chiyoda Subsea (ECS) filed for Chapter 11 bankruptcy protection in the US. On EMAS Offshore parent Ezra revealed it had at least a $900m exposure to ECS that was not covered by the Chapter 11 bankruptcy protection, and any default on could lead to "immediate going concern issues".

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About the Author

Marcus Hand

Editor

Marcus Hand is the editor of Seatrade Maritime News and a dedicated maritime journalist with over two decades of experience covering the shipping industry in Asia.

Marcus is also an experienced industry commentator and has chaired many conferences and round tables. Before joining Seatrade at the beginning of 2010, Marcus worked for the shipping industry journal Lloyd's List for a decade and before that the Singapore Business Times covering shipping and aviation.

In November 2022, Marcus was announced as a member of the Board of Advisors to the Singapore Journal of Maritime Talent and Technology (SJMTT) to help bring together thought leadership around the key areas of talent and technology.

Marcus is the founder of the Seatrade Maritime Podcast that delivers commentary, opinions and conversations on shipping's most important topics.

Conferences & Webinars

Marcus Hand regularly moderates at international maritime events. Below you’ll find a list of selected past conferences and webinars.

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