Singapore's Sembcorp Marine 3Q Net Profit Rises 12.3%


SINGAPORE, Nov 5 (Reuters) – Singapore's Sembcorp Marine Ltd said on Tuesday its net profit for the third quarter of the year grew 12.3 percent to S$130 million due in part to foreign exchange gain.

Sembcorp Marine and its crosstown rival Keppel Corporation Ltd are the world's largest offshore drilling rig builders, but both have come under pressure in recent years from yards in China and South Korea.

Sembcorp Marine, in a statement, said its order book stood at S$13.5 billion at the end of the July-September quarter, up from S$12.7 billion at the close of the previous quarter.

Demand for high specification and ultra-deepwater rigs with advanced technical features is likely to remain high, and long-term industry fundamentals are supported by exploration activity in harsh environments and by field development programmes, the company said.

(Reporting by Rujun Shen; Editing by Christopher Cushing)

Copyright 2017 Thomson Reuters. Click for Restrictions.


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Load Planner/ Dispatcher Frac Sand
Expertise: Dispatcher|Project Management
Location: Mansfield, TX
Service Supervisor (Treater) - Bryan, TX
Expertise: Field Service Tech|Fracturing|Perforation
Location: Bryan, TX
Project Estimator, Site/Civil
Expertise: Cementing|Civil Construction|Estimating
Location: Spring, TX
search for more jobs

Brent Crude Oil : $48.06/BBL 2.51%
Light Crude Oil : $45.77/BBL 2.17%
Natural Gas : $2.97/MMBtu 2.30%
Updated in last 24 hours