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Asia Pacific Offshore Ship repair

Sembcorp Marine hurt by slow activity in offshore sector

The first quarter’s net profit figure for Sembcorp Marine more than halved when taking into account the lower turnover as rig building and offshore production jobs undertaken by the company dwindled. While the repair and upgrade segment revenue rose with higher margins, the volume of work fell from the first quarter of 2018

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After a lacklustre first quarter set of results for Sembcorp Marine, the outlook for the future is not much brighter, with new contracts secured in the first quarter totalling just S$175m

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This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call UK support at +44 (0)20 3377 3996 / APAC support at +65 6508 2430

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