SINGAPORE, Nov 5 (Reuters) – Singapore’s Sembcorp Marine Ltd said on Tuesday its net profit for the third quarter of the year grew 12.3 percent to S$130 million due in part to foreign exchange gain.
Sembcorp Marine and its crosstown rival Keppel Corporation Ltd are the world’s largest offshore drilling rig builders, but both have come under pressure in recent years from yards in China and South Korea.
Sembcorp Marine, in a statement, said its order book stood at S$13.5 billion at the end of the July-September quarter, up from S$12.7 billion at the close of the previous quarter.
Demand for high specification and ultra-deepwater rigs with advanced technical features is likely to remain high, and long-term industry fundamentals are supported by exploration activity in harsh environments and by field development programmes, the company said.
For the full statement, click. (Reporting by Rujun Shen; Editing by Christopher Cushing)
© 2013 Thomson Reuters. All rights reserved.
Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.
Join the 109,008 members that receive our newsletter.
Have a news tip? Let us know.
China's retaliatory tariffs on the United States may cause U.S. oil exports to decline in 2025 for the first time since the COVID-19 pandemic, after growth plateaued last year.
A. P. Moller-Maersk A/S, a bellwether for world trade, forecast growth in the global container market as it sees consumer demand defying an intensifying trade war.
Almost every day since the expansion of Canada’s Trans Mountain pipeline was completed in May, a tanker laden with oil sands crude shipped through the line has passed under Vancouver’s Lions Gate Bridge en route to refineries around the Pacific.
Maritime and offshore news trusted by our 109,008 members delivered daily straight to your inbox.
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up
Join The Club
