You are here
Vallianz streamlines operations to focus on core vessel chartering business
OFFSHORE marine solution provider Vallianz Holdings is streamlining its operations in response to the challenging marketing conditions in the offshore and marine industry.
The group has ended its businesses of providing crew management services to external parties and travel services to the offshore oil and gas industry, to focus its resources on the core vessel chartering business.
These are part of a "rightsizing exercise that is expected to reap cost savings for the group", said Vallianz in an announcement on Friday early morning.
Vallianz had also in end-2016 ceased operations at its Singapore shipyard with the industry slowdown and discontinuation of business with a key local customer. The group has decided to consolidate its yard operations instead at its marine base in Batam, Indonesia.
"With a leaner operating structure and its continual efforts to maximise operational efficiency, the group will be better positioned to withstand the challenging industry conditions and to sustain its competitiveness in key operating markets," it said.