Sembcorp Marine Company News

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FPSO Design Contract Goes to Sembcorp
Thursday, August 29, 2019 Siccar Point and Shell aim to sanction Cambio in 2020.

Singapore's Sembcorp Marine 1Q Profit Slumps 86%, Outlook Subdued
Wednesday, April 25, 2018 Sembcorp Marine says first-quarter profit fell 86%, and signaled a subdued outlook for orders and business volumes.

Rig Builder Sembcorp Marine 2Q Net Profit Falls 51%
Thursday, July 27, 2017 Sembcorp Marine posts a 51% fall in second-quarter profit.

Asia Oil, Gas Layoffs Mount as Industry Recovery Stays Elusive
Thursday, September 08, 2016 The industry downturn continues to weigh on Asian oil and gas workers as redundancies continue to rise with no recovery in sight.

Brazilian Government Plans to Open Talks with Keppel, Sembcorp Marine
Monday, September 05, 2016 Brazil plans to opens talks with Singapore's Keppel Corp. and Sembcorp Marine to find solutions to the challenges they faced in the country, including issues arising from an ongoing corruption probe.

Sembcorp Marine Acquires Remaining 15% Stake in PPL Shipyard for $115M
Wednesday, August 24, 2016 Sembcorp Marine acquires 15 percent interest in PPL Shipyard for $115 million, giving it full ownership of the Singapore yard.

Singapore's Sembcorp Marine Acquires Norway's LMG Marin for $20M
Monday, August 22, 2016 Singapore’s Sembcorp Marine acquires Norwegian naval architectural firm LMG Marin for $20 million.

Penny Stock DBS Couldn't Save Roils Singapore Oil Hub, Banks
Monday, August 08, 2016 With a market value of $37 million, Swiber Holdings hardly seemed the kind of company to cause a ripple in the financial markets. Yet, the near-liquidation of the penny-stock firm has set off tremors in Singapore's banking and energy industries.

Sembcorp Marine's 2Q 2016 Net Profit Falls 90% to $8.1M
Friday, July 29, 2016 Sembcorp Marine's net profit falls sharply in the second quarter of 2016, down 90 percent to $8.1 million, compared to $80.7 million last year.

Sembcorp Marine Delivers World's Largest Jackup Noble Lloyd Noble
Monday, July 18, 2016 Sembcorp Marine delivers the world's largest jackup Noble Lloyd Noble to Noble Corp., with the newbuild to be deployed to Statoil's Mariner field in the North Sea.

Sembcorp Marine Taps GE Technology for World's Largest Semisub Crane Vessel
Thursday, July 14, 2016 GE to provide Sembcorp Marine with the electric part of the power and propulsion system for the world's largest semisubmersible crane vessel being built for Heerema.

Sembcorp Marine Acquires 50% Stake in KANFA Aragon from Sevan Marine
Wednesday, June 29, 2016 Sembcorp Marine acquires 50 percent stake in process solutions and services provider KANFA Aragon from Sevan Marine for $2.36 million.

NADL, Jurong Shipyard Extend Standstill Agreement for West Rigel
Wednesday, June 08, 2016 North Atlantic Drilling Ltd. and Jurong Shipyard extend a standstill agreement for delivery of West Rigel semisub to September.

Sembcorp Marine to Contest EIG Management's Claim in U.S. Legal Suit
Friday, June 03, 2016 Sembcorp Marine and its unit Jurong Shipyard have been served with summons in a legal suit filed by EIG Management in the U.S. over the latter's $221 million investment in Sete Brasil.

EIG Names Keppel as Defendant in U.S. Court Case Against Petrobras
Thursday, June 02, 2016 EIG Management Co. names rig builder Keppel as a defendant in a case against Petrobras in a U.S. court, but the Singapore yard denies the allegations.

Sembcorp Marine Delivers Newbuild Maersk Highlander to Maersk Drilling
Monday, May 30, 2016 Sembcorp Marine delivers newbuild Maersk Highlander to Maersk Drilling, with the jackup to be deployed to Culzean field in the North Sea.

Sembcorp Marine Dismisses EIG's Allegations on Sete Brasil Investment
Wednesday, May 25, 2016 Sembcorp Marine dismisses allegations by EIG Management Co. that the latter was misled by the firm and its unit Jurong Shipyard to invest in Sete Brasil.

Sembcorp Marine's Unit EJA Completes First Repair Job at its Brazil Yard
Wednesday, May 18, 2016 Sembcorp Marine's unit Estaleiro Jurong Aracruz completes its first vessel repair project at its yard in Brazil.

Industry Needs to Make Tough Call on Deepwater Projects in Challenging Time
Wednesday, May 18, 2016 Difficult decisions are needed to tackle challenges in the current market as the number of deepwater projects dropped 42 percent in the past year to 122.

Sembcorp Marine's 1Q 2016 Net Profit Falls 48% YOY to $41M
Thursday, April 28, 2016 Sembcorp Marine's net profit falls 48 percent in the first quarter of 2016 to $41 million, compared to $79 million a year ago amid lower revenue from rig construction.

Singapore High Court Grants Stay of the Action in PPLS-MPD Jackup Spat
Tuesday, April 26, 2016 Singapore High Court grants Marco Polo Drilling a stay of the action on arbitration proceedings commenced by PPL Shipyard over the termination of a jackup construction contract.

Transocean, Jurong Shipyard Reach Deal to Defer Delivery of 2 Drillships
Wednesday, April 20, 2016 Transocean reaches agreement with Jurong Shipyard to defer delivery of two ultra deepwater drillships.

PPL Shipyard Commences Arbitration Proceedings Against Marco Polo Drilling
Thursday, April 07, 2016 Singapore's PPL Shipyard commences arbitration proceedings against Marco Polo Drilling over a rig construction contract.

Don't Get Hopes Up For Sustained Keppel, Sembcorp Marine Rally
Wednesday, April 06, 2016 The world's two biggest builders of oil rigs saw their stocks rise the most in more than two years last month as crude rebounded.

Asian Yards See Weaker Revenues amid Uncertainty in Brazil
Friday, March 18, 2016 Major Asian yards are bracing for greater turbulence in their earnings as the future of Brazilian construction projects remains unclear.

Noble Expects Delivery of Noble Lloyd Noble to be Delayed to 3Q16
Tuesday, March 15, 2016 Noble Corp. says jackup Noble Lloyd Noble's delivery will be delayed to third quarter 2016 due to damage sustained in an incident at its construction yard in Singapore.

Sembcorp Marine Raises Stake in Norway's Gravifloat to 56%
Thursday, March 10, 2016 Sembcorp Marine raises its stake in Norway's Gravifloat to 56 percent after buying an additional 44 percent interest for $27.5 million.

Noble Lloyd Noble Jackup Sustained Damage at Singapore's Jurong Shipyard
Wednesday, March 02, 2016 Noble Corp.'s newbuild jackup Noble Lloyd Noble sustained damage in an incident at Singapore's Jurong Shipyard, where it is being constructed.

Sembcorp Marine Says Noble Lloyd Noble on Schedule for 2Q 2016 Delivery
Wednesday, March 02, 2016 Sembcorp Marine says newbuild jackup Noble Lloyd Noble, damaged in an incident at a Singapore yard, remains on schedule for delivery in the second quarter of 2016.

Sembcorp Marine Sells 50% Stake in Dolphin Workboats to Entraco Venture
Tuesday, March 01, 2016 Sembcorp Marine's unit sells its 50 percent stake in Dolphin Workboats to existing shareholder Entraco Venture.

Sembcorp Marine Posts First Quarterly Loss, Warns of Long Downturn
Monday, February 15, 2016 Singaporean rig builder Sembcorp Marine posts its first quarterly loss, hit by write-downs and projects delays.

Sembcorp Marine Delivers Accommodation Semisub Safe Zephyrus to Prosafe
Tuesday, January 19, 2016 Sembcorp Marine delivers the accommodation semisubmersible vessel Safe Zephyrus to Prosafe.

Looking Beyond Backyard Doesn't Pay for Singapore Rig Builders
Monday, January 18, 2016 This week, two of Singapore's blue-chip companies could learn that it doesn't pay to expand too far afield.

Jurong Shipyard, NADL Reach Standstill Agreement for West Rigel Semisub
Thursday, December 03, 2015 Jurong Shipyard and North Atlantic Drilling reached a standstill agreement for the delivery of the West Rigel ultra-deepwater semisub until June 2016.

PPL Shipyard Serves Termination Notice on MPD Over Jackup Construction Spat
Wednesday, December 02, 2015 Singapore's PPL Shipyard serves termination notice on Marco Polo Drilling after the latter failed to comply with the payment schedule for a jackup under construction.

Marco Polo Marine Updates on Jackup Construction Dispute with PPL Shipyard
Tuesday, December 01, 2015 Marco Polo Marine updates on the dispute between Marco Polo Drilling and PPL Shipyard over the termination of a jackup construction contract.

Singapore Rig-Builder Sembcorp Marine Says to Record 4Q Net Loss
Tuesday, December 01, 2015 Singapore's Sembcorp Marine says it is expected to record a net loss for the fourth quarter due to a challenging operating environment.

PPL Shipyard Challenges MPD's Termination of Jackup Construction Contract
Thursday, November 26, 2015 Sembcorp Marine's unit PPL Shipyard challenges Marco Polo Drilling's termination of a jackup construction contract.

MPD Initiates Contractual Dispute Resolution Process Against PPL Shipyard
Wednesday, November 25, 2015 Singapore's Marco Polo Drilling (MPD) initiates contractual dispute resolution process against PPL Shipyard over the termination of a rig building deal.

Sembcorp Marine Bags MODEC's FSO Construction Contract for Culzean Field
Thursday, November 19, 2015 Sembcorp Marine bags a contract to design and build a new floating storage and offloading vessel for MODEC to be deployed to Maersk's Culzean field in the North Sea.

PPL Yet to Receive MP Drilling's Termination Notice for Jackup Construction
Wednesday, November 18, 2015 Singapore's PPL Shipyard has not receive any notice of termination from Marco Polo Drilling of the $214.3 million jackup construction contract.

Sembcorp Marine Opens Southeast Asia's Largest Steel Fabrication Workshop
Wednesday, November 04, 2015 Sembcorp Marine opens Southeast Asia's largest steel structure fabrication workshop in Singapore.

Sembcorp Marine's 3Q 2015 Net Profit Down 76% to $23.1M, Rig Revenue Falls
Friday, October 23, 2015 Sembcorp Marine's third quarter 2015 net profit falls 76 percent to $23.1 million due largely to lower contributions from rig building.

SMOE Bags $1B EPC Contract from Maersk Oil for Culzean Project in North Sea
Tuesday, September 01, 2015 Sembcorp Marine's subsidiary SMOE bags a $1 billion engineering, procurement and construction contract for the Culzean field project in the North Sea from Maersk Oil.

Sembcorp Marine's 2Q 2015 Net Profit Falls 17% to $79.6M, Revenue Down 10%
Thursday, July 30, 2015 Sembcorp Marine's second quarter 2015 net profit falls 17 percent to $79.58 million compared to $96.37 million a year ago as low oil prices continue to have an adverse impact.

Sembcorp Marine Inks $1B Deal to Build World's Largest Semisub Crane Vessel
Wednesday, July 15, 2015 Sembcorp Marine inks $1 billion engineering and construction contract to build the world's largest semisubmersible crane vessel for Heerema.

Sembcorp Marine Reorganizes Business to be a Globally Integrated Firm
Wednesday, July 01, 2015 Sembcorp Marine reorganizes its business to be a globally integrated company, focusing on four key capabilities.

Singapore Shipbuilders Alleged to Be Part of Brazil Bribe Scheme
Tuesday, June 23, 2015 Singaporean shipbuilders Keppel Fels and Jurong Shipyard are sinking deeper into a graft scandal that has transfixed Brazil and buffeted local oil industry suppliers.

Sembcorp Marine's 1Q 2015 Net Profit Falls 14% to $79.74M, Revenue Down 2%
Tuesday, April 28, 2015 Sembcorp Marine's first quarter 2015 net profit fell 14 percent from a year ago to $79.74 million, while revenue declined 2 percent to $978.1 million due to a fall in rig building and repair revenue.

Sembawang Shipyard Bags Teekay's $41M Gina Krog FSO Conversion Project
Wednesday, April 22, 2015 Sembcorp Marine's unit Sembawang Shipyard bags a $41.4 million floating storage and offloading conversion contract from Teekay for the Gina Krog field in the North Sea.