Robert Kuok's PACC Offshore Services Holdings (POSH) is likely to book further impairments for its OSVs this year.
The Singapore-listed company said that despite more activity, charter and utilisation rates for its ships remained under pressure due to persistent oversupply in the sector.
It expects the carrying value of its OSV fleet to be further impaired by year-end, although not to the same extent as in previous years.
