S'pore's Otto Marine warns of Q3 loss, cites volatile FX

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

31 Oct 2011

Singapore shipbuilding and marine services firm Otto Marine Ltd expects to report a loss for the third quarter ended September, the company said, citing volatility

in foreign exchange markets.
It said in a filing to the Singapore Exchange that the loss will be largely due to the euro's volatility against the dollar as well as reduced revenue from subsidiary Reflect Geophysical, which leases seismic vessels.
Otto Marine is scheduled to report third quarter earnings on Nov 11 after trading hours.
Source: Reuters