Ezra Holdings warns of loss

Singapore offshore shipping group to post Q1 deficit due to "depressed" oil and gas markets.

Singapore's Ezra Holdings is to unveil a deficit in its first quarter due to "depressed" oil and gas markets.

The offshore shipping player said it will fall to an unspecified net loss to 30 November, against a $60.6m profit for the same period of 2015, which was largely down to a one-off gain from the consolidation of its subsea subsidiary EMAS Offshore.

It added: "The expected net loss is mainly attributable to the continuing depressed state of the oil and gas industry which has impacted activities in the global offshore marine and subsea industry."

The results are due on 14 January.

TRENDING TODAY