Vallianz Shuts Singapore Yard
Singapore’s offshore-support vessel provider Vallianz Holdings has ceased operations at its shipyard in Singapore as part of efforts to streamline business operations amidst the severe industry downturn.
At the end of 2016, the group has ceased operations at its shipyard in Singapore due to the industry slowdown and discontinuation of business with a key local customer, Vallianz said in a filing with the Singapore today (Jan 6).
These are part of a "rightsizing exercise that is expected to reap cost savings for the group", said Vallianz statement. Vallianz explained that the decision to cease the Singapore shipyard operations follows the closure of the group’s businesses in the provision of crew management services to external parties and travel services to the offshore oil and gas industry.
"With a leaner operating structure and its continual efforts to maximise operational efficiency, the group will be better positioned to withstand the challenging industry conditions and to sustain its competitiveness in key operating markets," it said.
According to Strait Times, Vallianz will consolidate its yard operations at its marine base in Batam, Indonesia. This marine base will continue to service the group's fleet of vessels and support activities required to fulfil its chartering contracts.