ASL Marine Warns of Expected Loss

Singapore-listed ASL Marine Holdings anticipates reporting red ink for the second quarter of 2018 financial year and six months ended December 31, 2017.

The forecast is based on the preliminary review of the unaudited consolidated financial statements, the shipbuilding and repairing company said.

ASL Marine explained that the loss was due to weaker contribution from operations, partially offset by higher other operating income.

The financial performance will be disclosed when the company announces its results for the first half of 2018 FY on February 14, 2018.

The profit warning comes on the back of the loss the group reported in the first quarter of 2018 fiscal year, which stood at SGD 7.1 million, against a profit of SGD 235,000 reported a year earlier.

The company’s business, which also includes ship chartering, was badly struck by the overall downturn in the shipbuilding industry and offshore oil and gas sector.

Hence, the company decided to seek orders for non-OSV vessels such as tanker, tugs and barges, so as to improve its operational efficiency.

World Maritime News Staff

Share this article

Follow World Maritime News

Posted on February 5, 2018 with tags .

In Depth>

Events>

<< Nov 2019 >>
MTWTFSS
28 29 30 31 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 1

The 9th Annual Event Green Shiptech China Congress 2020

The 9th Annual Event- Green Shiptech China Congress 2020 will be held on next…

read more >

CWC World LNG Summit & Awards Evening

The CWC World LNG Summit & Awards Evening will be returning to Rome in 2019 to celebrate it’s 20th year.

read more >

Salvage & Wreck

Salvage and Wreck Removal Conference will focus on Casualty management case studies, Dealing with hazardous cargo and container ship fires…

read more >

Maritime Reconnaissance and Surveillance Technology

As varied threats in the Mediterranean Sea continue to proliferate, the need to advance…

read more >