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’s 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...]
Singapore Rig Builder Sembcorp Marine Swings to Loss
SINGAPORE, Oct 25 (Reuters) - Singapore's Sembcorp Marine Ltd swung to a loss in the third quarter and the rig builder's revenue was hurt by customers deferring rig deliveries amid a protracted downturn in the oil and natural gas market. The company posted a net loss of S$21.8 million ($15.7 million) for the three months ended Sept. 30, compared with a net profit of S$32.1 … [Read more...]