The Singapore Oil rig industry has been hit by contract cancellations due to weaker energy demand. The plummeting crude prices has also dampen.
It is also reported that Keppel Corp, the world's biggest maker of offshore oil rig has two contracts cancelled and the third deal been renegotiated.
Keppel and Lewek Shipping, a subsidiary of Singapore-listed Ezra Holdings, are also currently working towards an amicable, mutual termination of a contract
China-linked shipping firm Cosco Corp has announced a series of ship-building cancellations and deferments and has warned shareholders to expect lower profits.
The 'outlook for the shipbuilding sector continues to deteriorate with continued build in customer cancellation, further lowering earnings and cash flows visibility', Macquarie said.
Full Article : Straits Times
Note : Those investing in Cosco, Keppel Corp and Ezra, please study the entry price again.
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