- Business
- Pacific Radiance Ltd. (SGX: RXS) is an investment holding company primarily engaged in owning, managing, chartering, and operating offshore support vessels (OSVs) and dive support vessels to serve the offshore oil and gas industry, as well as providing ship repair, shipyard services, subsea services, ship agency, and support for offshore wind projects. The company operates through two main segments: Ship Management, which encompasses chartering and managing OSVs including anchor handlers, platform supply vessels, crewboats, and accommodation workboats; and Shipyard, which offers repair, maintenance, fabrication, and construction of fit-for-purpose vessels using its 33,000 square meter facility in Singapore featuring two 6,000 DWT dry docks. It serves oil and gas companies, offshore contractors, seismic survey firms, and vessel owners, with a global footprint spanning Asia (Singapore, Papua New Guinea, Thailand, Malaysia, India), the Middle East (including Abu Dhabi), Africa, Australia, Latin America (including Brazil), and Taiwan.
Founded in 2006 and headquartered in Singapore, where it has been listed on the Singapore Exchange mainboard since 2013, Pacific Radiance operates as a subsidiary of YM Investco Pte Ltd and maintains subsidiaries such as Pacific Crest Pte Ltd, Strato Maritime Services Pte Ltd, Alstonia Offshore Pte Ltd, and Crest Subsea International Pte Ltd. The group supports renewable energy sectors alongside traditional oil and gas, with a fleet of vessels in operation across three continents and a workforce including onshore staff, management, and professional seafarers.
In recent developments, Pacific Radiance reported a half-year profit of $8.8 million for the period ended June 30, 2025, reflecting improved financial performance amid market recovery. The company completed the voluntary liquidation of its indirect subsidiary Radiance ZJ Pte Ltd in June 2025 and a direct wholly-owned subsidiary in November 2025, streamlining operations. Additionally, it made an additional investment in Mainprize Asia Ventures Pte. Ltd. in August 2025 and continues warrant exercises leading to share allotments, while undergoing executive changes including the resignation of its Chief Strategy and Business Development Officer in November 2025. These moves follow a major restructuring completed around 2020-2022, which involved a court-sanctioned scheme of arrangement, vessel sales to ENAV Offshore, and share allotments to secured lenders financing 33 vessels across multiple regions.