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Strained offshore company Ezion heralds billion-dollar loss

Singapore-based offshore company Ezion Group, currently in debt restructuring talks with its banks, heralds a deficit of more than USD 1 billion.

Ezion Group in Singapore, which describes itself as the biggest owner and operator of rescue vessels in the Asia and Pacific region, expects a net deficit of USD 1 billion for the fourth quarter and full-year 2017, says the company in an update Thursday.

The vast majority of the net deficit – around USD 900 million – stems from fleet value impairments.

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