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Oil price rout hits O&M firms in Q1

Nam Cheong profit takes a dive; Swiber and Otto Marine both in the red

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Work at a Nam Cheong yard. Q1 revenue has fallen mainly because of fewer vessel deliveries.

Singapore

IT'S hard out there for an offshore and marine (O&M) firm, going by the bloodletting on display at the end of the first full financial quarter that has elapsed ever since Brent crude prices fell below US$80 per barrel in November 2014.

Offshore support vessel (OSV)

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