Pacific Radiance

SINGAPORE (June 29): Vessel charterer Pacific Radiance announced a loss of US$12.8 million ($17.5 million) for the first quarter ended March, narrowing 13% from its loss of US$14.8 million a year ago on lower costs.

SINGAPORE (Nov 10): Pacific Radiance reported smaller 3Q losses of US$14.4 million ($19.6 million) compared to US$17.8 million a year ago.

SINGAPORE (Aug 14): Pacific Radiance, the provider of offshore marine support services, reported 2Q losses narrowed 88% to US$7.1 million from US$59.5 million a year ago.

SINGAPORE (June 15): Pacific Radiance, the provider of integrated offshore marine support services has secured US$45.3 million ($62.5 million) worth of new contracts including options.

SINGAPORE (June 8): Pacific Radiance announced Thursday that it has been granted $85 million in loans under two government-backed financing schemes to help tide over the prolonged offshore and marine (O&M) industry downturn.

SINGAPORE / HONG KONG (June 7): Singapore’s bond market has seen unprecedented defaults, and a slump in oil prices along with a weak property market are threatening to increase nonpayments this year.

SINGAPORE (May 18): DBS has downgraded Pacific Radiance from “hold” to “fully valued”, lowering its target price to 10 as liquidity issues cloud its outlook.

SINGAPORE (March 21): EMAS Offshore says it will be negatively impacted by the United States’ Chapter 11 filing by the company’s ultimate holding company Ezra Holdings to facilitate the restructuring of the group.

SINGAPORE (March 1): DBS Group Research is keeping Pacific Radiance on “hold” with an unchanged target price of 16 cents amid lingering concerns over its debt overhang.

SINGAPORE (Feb 17): Local offshore services provider Ezra Holdings is struggling to stay afloat as it faces mounting debt, defaults and a winding-up petition.