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 105,945 members that receive our newsletter.
Have a news tip? Let us know.
ROME (Reuters) – An Italian judge on Friday cleared three migrant sea rescue charities that had been accused of abetting irregular immigration in complicity with human traffickers, throwing out a case opened...
(Bloomberg) — The closure of one of the East Coast’s busiest ports after the collapse of Baltimore’s Francis Scott Key Bridge has so far not led to broad price increases,...
(Bloomberg) — An Iranian ship that’s been linked to Houthi attacks in the Red Sea is returning home, removing a prominent asset in the area as the Islamic Republic braces...
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
Sign Up
Maritime and offshore news trusted by our 105,945 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
