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  • 2017 January 7 22:26

    Vallianz streamlines operations to focus on vessel chartering business

    Vallianz Holdings Limited is  continuously  reviewing  its  business operations  as  part  of  an  ongoing strategic  review  of  its  organisational  structure in response to the requirements of the external operating environment, the company said in its press release.

    To mitigate the challenges of slower market conditions in the offshore & marine industry, the Group  has  been  implementing  a  cohesive  strategy  to  streamline  its  business  operations.  Its  latest  initiatives include the closure of certain non - core business units that will allow the Group to focus its  energies and resources on its core vessel chartering business. 

    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. In view of the current  weak market conditions , the Group has decided to 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. 

    The decision to cease the shipyard operations in Singapore follows the closure of the Group’s  businesses in the provision of crew management services to external parties and travel services to  the offsho re oil and gas industry.  The closure of  these  non - core business units is part of a rightsizing exercise that is expected to  reap cost savings for the Group.

    In addition, these initiatives will enable the Group to concentrate its  resources on core business units, particularly  its profitable vessel chartering operations which are  based primarily in the Middle East. 




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