Transocean Delays Drillships at Sembcorp Marine

Switzerland-based offshore drilling contractor Transocean (NYSE: RIG) has announced an agreement with a unit of Sembcorp Marine to delay the delivery and related final payments of two dynamically positioned ultra-deepwater drillships. The drillships are on order at Sembcorp Marine's Jurong Shipyard in Singapore. The proprietary Jurong Espadon 3T designed rigs are now … [Read more...]

Sete Brasil Bankruptcy Seen as Blow to Petrobras, Shipbuilders

By Guillermo Parra-Bernal SAO PAULO, April 20 (Reuters) - Shareholders in Sete Brasil Participações SA voted on Wednesday to allow the ailing rig lessor to seek bankruptcy protection after efforts to secure a long-term contract with state-controlled oil producer Petróleo Brasileiro SA failed. Petrobras, as Sete Brasil's sole client is known, confirmed the decision through … [Read more...]

Sembcorp Bags Even Bigger Culzean Field Contract

  Another huge contract handed out today by Maersk Oil one day after the company and its partners won UK approval for the multi-billion development of the giant Culzean gas field in the North Sea. Earlier today we reported that Subsea 7 won a $150 million subsea, umbilical, riser and flowline (SURF) contract for the field from Maersk Oil. Now it seems Singapore's … [Read more...]

Sembcorp Signs $1 Billion Contract for World’s Largest Semi-Submersible Crane Vessel

  Sembcorp Marine (SCM) says it has entered into a $1 billion contract with Heerema Offshore Services for the engineering and construction of the world's largest semi-submersible crane vessel. The new DP3, dual fuel crane vessel will be designed for the installation and decommissioning of major offshore facilities worldwide, and will be equipped with two Huisman … [Read more...]

Bears Crowd to Sembcorp After Stock’s 18% Drop

By Jonathan Burgos and Kyunghee Park Oct. 13 (Bloomberg) -- Sembcorp Marine Ltd. lost about $1.3 billion in market value this year, making it the second-biggest decliner on Singapore’s Straits Times Index. There’s more pain to come if short sellers are any guide. Bearish bets on the stock climbed to the highest level in more than a year after the world’s second-biggest … [Read more...]