1Q 2018 has shown great improvement to narrow down the Net Loss to almost half as of last year.
Total revenue increase from 34m to 70m.
Net Loss is lowered from 18m to 7.1m.
PACC Offshore Services Holdings Ltd. provides offshore marine support services worldwide. The company’s Offshore Supply Vessels segment operates a fleet of mid to deepwater anchor handling tug supply vessels, which offer towing and positioning of drilling rigs, transporting drilling materials, and other equipment services; and platform supply vessels that transport drilling materials and supplies to drilling rigs and offshore production platforms, as well as pipes and other materials for construction of marine structures or pipelines. The company’s Transportation and Installation segment supports marine contractors in the construction and maintenance of oilfield infrastructure and pipelines. This segment operates anchor handling tugs for cross-ocean towing, and transporting large marine structures from the builder’s yard and installing them in the oilfields; and large marine structures, and ballastable tank barges and tugs for transporting construction materials and subsea pipes. Its Offshore Accommodation segment owns and operates vessels that offer accommodation, transportation, and hospitality services for workers in oilfields. The company’s Harbour Services & Emergency Response segment owns, operates, and manages harbor tugs and heavy lift crane barges for supporting harbor towage operators and providing heavy lift services to shipyards; and provides firefighting, salvage, wreck removal, emergency rescue, and oil spill response services to vessels. The company also provides services to control pollution from oil and chemical spillage, as well as to protect the marine environment; ship management services; and support services for water transport, as well as rents and leases ships. It also charters barges and boats with crew. It operates a fleet of approximately 100 offshore vessels. The company was incorporated in 2006 and is headquartered in Singapore. PACC Offshore Services Holdings Ltd. is a subsidiary of Kuok (Singapore) Limited.
From TA point of view, it is having a Reversal play candlestick chart patterns.
Looking good to re-attempt the recent high of 34.5 cents.
With Oil price hitting above US70 per barrel, this counter may likely benefit . Short term wise, it may likely continue to trend higher.
Crossing over with ease + good volume, that may propel to drive the price higher towards 39 cents then 40 cents with extension to 46 cents.
Look at the Monthly chart, it may have found the bottom! Likely to see it rocket up any moment.
Not a call to buy or sell.
Please do your own due diligence.
