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 2018 >>
MTWTFSS
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 2

Offshore Wind Europe 2018

The Offshore Wind Europe speaker line-up is supported by executives who are leading the charge…

read more >

Europort 2018

From 15-17 May 2018, the 12th edition of Europort Romania willl take place in the IDU Hall in Constanta…

read more >

Petrochemical Supply Chain & Logistics Conference & Exhibition

The Petrochemical Supply Chain & Logistics Conference & Exhibition (15 – 16th November, Houston) is positioned at the forefront of the booming Petrochemical industry in North America.

This industry leading event is regarded as the most significant meeting place for supply chain & logistics professionals, where they meet to do business.

More Info

read more >

DREDGING FOR SUSTAINABLE INFRASTRUCTURE

The two-day-long programme offers six highly interactive sessions with contributions from…

read more >