Otto Marine sank deeper into the red in the second quarter as it officially delisted from the Singapore Stock Exchange.
The offshore vessel owner reported a net loss of $18.3m, compared to $2.5m in the corresponding period of 2015.
Its quarterly revenue came to $42.18m, around 41% lower than last year’s figure.
Otto explained the weak performance was mainly due to lower vessel utilisation and reduced charter rates.
Meanwhile,
