Singapore offshore services firm Vallianz Holdings has ceased operations at its shipyard in Singapore citing the industry slowdown and the discontinuation of business with a key local customer.
Vallianz says it has been implementing a cohesive strategy to streamline its business operations, leading to the closure of certain non-core business units in order to focus on the core vessel chartering business.
Yard operations will be consolidated to the Vallianz marine base in Batam, Indonesia which will continue to service the fleet of vessels required to fulfil chartering contracts.
Valianz recently closed its businesses in the provision of crew management services to external parties and travel services to the offshore industry.
