Vallianz ends operations at shipyardCompany News // January 6, 2017
The Board of Directors of Vallianz Holdings Limited, which says it 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," says it has decided to focus its energies and resources on its core vessel chartering business. As a result, at the end of 2016, the group 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 offshore oil and gas industry.