The Business Times
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Singapore's O&M sector living on the edge of another oil rout

Tanking prices caused by Covid-19 pandemic is crushing activity and energy demand

Anita Gabriel

Anita Gabriel

Published Fri, Apr 10, 2020 · 09:50 PM

    Singapore

    SINGAPORE's offshore and marine (O&M) sector, still not fully back on its feet after the last slump, is suffering a massive blow as jobs dry up and charter rates fall.

    This is unfolding as oil prices tank - led by the Covid-19 pandemic that has crushed activity and with it, energy demand.

    Opec

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