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S'pore listed offshore firms distance themselves from SwiberS'pore listed offshore firms distance themselves from Swiber

Singapore-listed offshore firms moved to distance themselves from the collapse of Swiber on Thursday saying they were in different sectors.

Marcus Hand, Editor

July 28, 2016

1 Min Read
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Both Swissco Holdings and Ezion Holdings issued “general business updates” to the Singapore Exchange in relation to Swiber’s announcement that it would be seeking to be wound-up that sent shockwaves through the market.

Both Swissco and Ezion stated they had no business dealings with Swiber and that they were not in the same sector of offshore as Swiber which specialised in engineering, procurement, installation and construction (EPIC).

Swissco stated that it was an owner and operator offshore rigs and vessels, and Ezion a provider of service rigs.

Ezion closed down 8.7% at SGD0.315 per share on Thursday, while Swissco’s shares were down 17.8% at SGD0.06.

The Singapore offshore market is still reeling from the announcement Swiber very early Thursday morning that it had filed for a winding-up order and appointed provisional liquidators as its top management quit.

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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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