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Growing worries as S'pore rig builders' payables balloon

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Published Wed, Jul 27, 2016 · 09:50 PM

DeeperDive is a beta AI feature. Refer to full articles for the facts.

Singapore

SO things in commodities are pretty awful right now. But spare a thought for Singapore's oil services industry.

It's not just crude prices that are trending down again; bank obligations and supplier bills are piling up, and customers aren't paying their contracts. That's bad news when the sector faces US$500 million of bonds that mature next year and another US$725 million in 2018.

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