Revenue declined 42% to US$34.3 million mainly due to continued challenging conditions across the industry that resulted in lower utilisation and charter rates across most of its business segments.
SINGAPORE (May 4): PACC Offshore Services Holdings has sunk into the red in 1Q ended March.
The offshore marine services provider posted a loss of US$18.4 million ($25.7 million) compared to earnings of $4.5 million a year ago.
