EMAS Offshore swings into 3Q losses

SINGAPORE (July 15): EMAS Offshore, the subsidiary of Ezra that provides offshore oil and gas services, swung into 3Q losses of US$23.2 million ($31.2 million) from net profit of $5.2 million a year ago.

Revenue for the three months ended May fell 41% to US$35.1 million from US$59.2 million a year ago, mainly due to general weakness in the offshore industry.

The shallow water platform support vessels (PSV) and anchor handling, towing and supply vessels (AHTS) segment continues to remain weak, says EMAS Offshore.

---

Related Stories

• EMAS Offshore's 2Q losses narrow but still faces creditor claims
• Miyoshi swings back to profitability in 3Q
• Neo Group’s 3Q earnings fall on absence of one-time gain

---