ASL Marine has come a long way since the offshore and marine downturn that began in the mid-2010s.

Back then, weak charter rates, poor demand for offshore support vessels and troublesome shipbuilding contracts put heavy pressure on both earnings and the balance sheet.

Since then, the tide has clearly turned.

Revenue started recovering in FY2023, ship repair activity returned to more normal levels, charter utilisation improved and ASL became much more selective about the shipbuilding jobs it takes on.

Just as importantly, the group has been working hard to cut debt through vessel sales and refinancing.

https://www.nextinsight.net/story-archive-mainmenu-60/949-2026/16796-this-companys-comeback-from-troubled-waters-to-net-cash