Overseas Shipholding Group, Inc. (OSG) has revealed that its international flag business, International Seaways, will recognise vessels impairment charges of up to $55m for the quarter ended 30 September 2016, following an announcement to split up...
China Oilfield Services Limited (COSL) saw its first half profit plunged deep into the red as the group accounted for impairment charges of more than RMB7bn ($1.05bn).
China Oilfield Services Limited (COSL) saw its profit slashed significantly for the financial year over 2014 due mainly to huge impairment charges on the back of a weak offshore oil and gas market.
Malaysian Bulk Carriers (Maybulk) said it has posted its first ever annual loss of MYR1.18bn ($282.14m) in 2015, hit by huge impairment provisions as well as operating loss mainly from the dry bulk segment.
Dubai-based seismic firm Polarcus took a $242m writedown on its assets in Q4, reflecting the unprofitable state of offshore operations.
Malaysian Bulk Carriers (Maybulk) has issued a profit warning ahead of its 2015 results, it said in a stock market announcement.