PACC Offshore Services Holdings (POSH) has seen deeper red in 2016 but at the same time appears to have emerged victorious from a $59m charter dispute.
The Singaporean company reported a net loss of $371.45m last year, compared to $131m in 2015.
This figure included non-cash impairment charges of $310.1m, POSH explained.
Captain Gerald Seow, chief executive of POSH, focused on the company’s net operating cash flow of $38.2m
