The Business Times
business-time-50
SUBSCRIBERS

Oil price rout hits O&M firms in Q1

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

google-preferred-sourceAdd BT as a preferred source
Published Thu, May 14, 2015 · 09:50 PM

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

    Nam Cheong
    Swiber

    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) builder Nam Cheong posted lower-than-expected earnings on Thursday, prompting a downgrade from some analysts, while offshore engineering firm Swiber sank into the red.

    nam cheongSwiber

    Copyright SPH Media. All rights reserved.

    Reuse this contentFeedback

    TRENDING NOW

    DBS filed the bankruptcy application after serving statutory demands to the directors of Autobahn Rent A Car in December 2025.

    Autobahn Rent A Car directors declared bankrupt over S$50 million each owed to DBS

    The price tag for the Nassim Road GCB works out to nearly S$4,550 per square foot.

    Nassim Road bungalow changing hands for S$64.9m 

    The acquisition of Citigroup's retail banking businesses in Indonesia, Malaysia, Thailand and Vietnam has helped double UOB’s customer base across the four markets.

    UOB’s Wee Ee Cheong says S$4.9 billion Citi deal ‘paying off’ as Asean push accelerates

    Loyang Valley sits on a 840,648 sq ft plot of land, which now houses 362 apartments.

    Loyang Valley sold for S$880 million to SingHaiyi-led consortium

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More