Net gearing higher at 1.47x Net gearing rose to 1.47x in 1Q19 from 1.44x in FY18, partly due to the installation of new capabilities in the group’s yard. For the full year, Sembmarine reported a net loss of $74 million, compared with a net profit of $260 million in FY 2017. Delivery for the three pojects is expected between the end of this year and February 2020, SembMarine said. Sembcorp Marine expects a positive contribution to its earnings from the contracts, but they are not expected to have any material impact on the group’s net tangible assets and earnings per share for the year ending Dec 31, 2019. SCI is the largest shareholder of Sembcorp Marine with a 61% stake in the Company. ABS, Sembcorp Marine and A*STAR’s Institute of High Performance Computing (IHPC) completed joint development projects in LNG bunkering and the use of LNG as a marine fuel. Reiterate BUY; Target Price lowered to S$1.90. SEMBCORP Industries will be appointing a new group president and chief executive officer (CEO) to take over from Neil McGregor, who will retire on June 30, said the firm in a statement on Monday... 19 Feb . Fuels | 18/12/20 The project was the outcome of the MoU between ABS, Sembcorp Marine and A*STAR’s IHPC in 2018 to advance the use of LNG as a marine fuel and to make LNG more accessible, reliable and safer for the industry. This included converting an LNG tanker into a floating storage and regasification unit (FSRU) for a joint venture between Mitusi O.S.K. It’s lack of new orders and project delays spell continued losses for the company. https://www.sembmarine.com/news-centre/publication/dolphin-february-2019 August 26th, 2019 by Saurabh Things look up for the firm because it is in the running for some sizeable projects, likely to be awarded in 2018. The Barossa project is currently in the FEED phase of development until late 2019, with the drilling of development wells and construction of the FPSO facility expected to begin around 2020/21. It reported a net loss of USD57 million (SGD78 million) for Q4 2019 against a net profit of USD4 million (SGD6 million) in Q4 2018. Staff Spotlight Estaleiro Jurong Aracruz showcases its strong commitment towards the local community. Singapore Hub and Supporting Yards (Indonesia), Leveraging a Resource Recovery Opportunity. Positives + S$175mn of new contracts secured in Feb-19. The new cruise ship contracts came on the back of Sembcorp Marine’s success in 2018 as Asia’s top cruise ship repair and upgrade solutions provider. SINGAPORE - Sembcorp Marine has taken on two separate renewable energy projects valued at more than $200 million, the group announced on Monday morning (OCT 29).. Read more at straitstimes.com. In the first quarter of 2019, Sembcorp Marine secured new orders worth about USD129 million (SGD175 million), compared to USD363 million (SGD476 million) in the same quarter in 2018. SEMBCORP Marine (SembMarine) has secured two offshore platform contracts worth over S$550 million to fabricate platforms at two oil fields, it said in a bourse filing on Thursday. In addition, SembMarine said it obtained three new gas projects. Project Highlights Sembcorp Marine celebrates the successful completion of Kaombo Sul, the second of two Saipem-awarded FPSO conversion projects. CIMB has factored in $2.5b new orders in 2018. Marine and offshore engineering group Sembcorp Marine has received a certification for its 3D printed parts. Separately, Sembcorp Marine as a subcontractor will fabricate certain platforms and bridges for Total E&P Danmark A/S in the Tyra Redevelopment Project. Sembcorp Marine, which acquired Sevan SSP AS last year, has contracted KBR for topsides design and integration support with work performed from Singapore and … On June 21, 2019, Sembcorp Marine announced jointly with Sembcorp Industries (SCI) that it had secured a five-year subordinated loan facility totalling $2 billion from SCI, which will strengthen the Group's financial position. In these contracts, SembMarine teamed up with various repeat and new customers. I am very pleased that our teams have translated several of these opportunities into new contracts,” Weng Sun, SembMarine’s president and CEO, said in the statement. SCI is the largest shareholder of Sembcorp Marine with a 61% stake in the Company. Sembcorp Marine Repairs & Upgrades has added three new gas projects to its portfolio, namely conversion of liquefied natural gas (LNG) tanker Dwiputra into a 125,000cbm floating storage and regasification unit (FSRU) for a joint venture between Mitsui O.S.K. August 26th, 2019 by Saurabh Posted By: Leslie Shaffer Monday, 2 September 2019 07:46:57. Sembcorp Marine Secures New Contracts : Jurong Shipyard secures FPSO conversion project : Sembcorp Marine’s Jurong Shipyard has secured an approximately S$130 million project to convert the Very Large Crude Carrier tanker, the MV TAR II (previously STAR II), to a Floating Production Storage and Offloading (FPSO) vessel for MODEC. Sembcorp Marine provides innovative engineering solutions to the global offshore, marine and energy industries, the company’s website states. Sembcorp Marine Rights Issue; Extraordinary General Meeting; Annual General Meeting; Circular to Shareholders; Key Financial Data; Dividend Information ; Investors' FAQ; Email Alerts; Home; Investor Relations; Annual Report; Annual Report. It was a subsidiary of Sembcorp until 2020, when the companies demerged following Sembcorp Marine's poor financial performance.. Sembcorp Marine's products and services include rigs & floaters, repairs & upgrades, offshore platforms and specialised shipbuilding. The Edge Singapore 1 September 2019 SINGAPORE (Sept 2): Sembcorp Marine has won a slew of new projects valued at $400 million ranging from engineering solutions for … Copyright 2021 | MH Newsdesk by MH Themes, Shenton Wire wishes its readers a Merry Christmas, Shenton Wire wishes its readers a Happy Deepavali, Shenton Wire wishes Singapore a Happy National Day, Shenton Wire wishes its readers Selamat Hari Raya Haji, Shenton Wire wishes its readers a Happy Easter, Singapore share buybacks Friday: Sembcorp, Stamford Land, Cheung Woh, Anchun, Straco, Singapore debt listings Friday: Export-Import Bank of Thailand, PTTEP Treasury Center, Soilbuild REIT 3Q18 net property income falls after KTL Offshore divestment, F J Benjamin swings to fiscal year net profit, Singapore share buybacks Wednesday: Jardine Matheson, Duty Free Intl, CDW, Global Investments, Cheung Woh, CapitaLand establishes S$5 billion medium term note program. The project, which will be executed over 45 days, includes installing a sulpher oxide scrubber unit to comply with new environmental regulations taking effect next year, SembMarine said. Sembcorp Marine Limited SGX: S51 an Asian company based in Singapore.It is listed on the Singapore Exchange (SGX). Things look up for the firm because it is in the running for some sizeable projects, likely to be awarded in 2018. Capping a disastrous end to 2019 Sembcorp Marine announced its 4Q19 results before the market opens on 20 February. To recap, Sembcorp Marine won new orders of S$1.18b in FY18 and S$750m in FY17. Sembcorp Industries has infused Rs 521 crore (~US$100 million) in Indian subsidiary Sembcorp Energy India to push the development of renewable energy projects. 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