The contracts were associated with the floating production, storage and offloading (FPSO) vessel Armada Perdana, and the suspension was first announced last June after delays to the bare-boat charter payments as well as irregular payments on the operations and maintenance contract.
PETALING JAYA: Bumi Armada Bhd
’s fourth quarter earnings is expected to be lacklustre, due to weakness in the offshore marine services (OMS) segment as well as the renewal of its vessels Armada Constructor and Installer, said UOB Kay Hian.
This is despite a likely recovery in the floating production storage and offloading (FPSO) segment in the fourth quarter ending Dec 31, 2018 (FY18), driven by full finance lease income from its Kraken FPSO unit.
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