ASL Marine wants to move beyond OSV construction as it announced a loss in its first quarter.
The shipowner and shipyard group said the net deficit to 30 September was SGD 7.13m ($5.26m), against a SGD 0.23m profit in 2016.
Revenue dropped to SGD 72.26m from SGD 96.69m, while costs were cut to SGD 67m from SGD 83.61m.
It is continuing to seek orders for non-OSV vessels such as tankers, tugs and barges, as well as improving operational efficiency and tightening cost controls.
