Singapore Rig Builder Sembcorp Marine Posts Q2 Loss, Flags Worsening Market in Second Half

SINGAPORE (Reuters) - Singaporean rig builder Sembcorp Marine on Tuesday posted a narrower second-quarter loss, but said it expected losses for the second half of the year to be higher than the first half, citing insufficient new orders. The company reported a net loss of S$8.5 million ($6.2 million) for the second quarter, compared with a loss of S$55.6 million a year ago. … [Read more...]

Sembcorp Marine Swings to Q2 Loss, Says Outlook Gloomy

  SINGAPORE, July 20 (Reuters) - Singaporean rig builder Sembcorp Marine Ltd swung into the red in the second quarter, and cautioned a trend of negative operating profit would continue in the near term as overall business volume remains low. It turned in a loss of S$55.6 million ($40.68 million) for the three months ended June, compared with a profit of S$5.1 million … [Read more...]

Singapore’s Sembcorp Marine Adds $1.5 Billion in 3 Weeks on Orders Outlook

By Abhishek Vishnoi (Bloomberg) -- Sembcorp Marine Ltd. has gained almost S$2 billion ($1.5 billion) in just three weeks -- making its parent Singapore‚Äôs best-performing stock in the past month -- as investors and analysts became more optimistic on the prospect of a potential surge in new orders amid rising oil prices. The company, which is majority-owned by Sembcorp … [Read more...]

Sembcorp Marine Q1 Profit Drops as Rig Orders Slow Down

SINGAPORE, April 27 (Reuters) - Singapore's Sembcorp Marine Ltd (Sembmarine) posted a 28 percent drop in its first-quarter profit as rig orders slowed and customers delayed taking deliveries. Sembmarine reported a profit of S$39.5 million ($28 million)for the three months ended March, compared with S$54.8 million a year earlier. The company, majority owned by industrial … [Read more...]

Sembcorp Marine Swings to Profit

SINGAPORE, Feb 22 (Reuters) - Singapore's Sembcorp Marine Ltd (SembMarine) swung to profit in the fourth quarter of 2016 after provisions pulled the rig builder into a loss the year earlier, but a downturn in oil prices pushed annual revenue to its lowest in a decade. SembMarine and compatriot Keppel Corp Ltd have been suffering from an oversupply of offshore oil drilling … [Read more...]