ASL Marine is forecasting a quarter in the red as offshore market conditions do not seem to improve.
The Singapore-listed company said it expects to report a net loss for the third quarter and the nine-month period ended on 31 March.
It attributes the anticipated negative result to lower operating profit and increased expenses in relation to its consent solicitation exercise.
ASL secured approval from bondholders to extend the maturity of bonds worth SGD 150m ($105m) by three years in January.
Since then, the company reported a smaller profit in the second quarter and said that recovery is still far away.
Chairman Ang Kok Tian said: “Despite the recent stabilization of oil prices we do not foresee the operating environment for our businesses improving significantly in the next 12 months.”
ASL, which owns more than 40 offshore vessels, is due to report its quarterly results on 15 May.
