, Columnist
Singapore Oil Rigs' Bad Habits
Accounts payable have risen 73 percent since December 2014 to $2.3 billion.
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So things in commodities are pretty awful right now but spare a thought for Singapore's oil-services industry.
It's not just crude prices that are trending down again. Bank obligations and supplier bills are piling up, and customers aren't paying their contracts. That's bad news when the sector faces $500 million of bonds that mature next year and another $725 million in 2018.