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. 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. COVID-19: Sembcorp makes $192m 1H loss 15 July 2020 Sembcorp targets offshore wind advance 20 May 2020 Sif enters exclusive talks for Japan foundation deal 27 December 2019 Jacket fits for Sembcorp Marine at Formosa 2 2 September 2019 Sembcorp Marine, which acquired Sevan SSP AS last year, has contracted KBR for topsides design and integration support with work performed from … For the full year, Sembmarine reported a net loss of $74 million, compared with a net profit of $260 million in FY 2017. In the short term, Sembcorp Marine’s earnings will be impacted by poor order flows. Sembcorp Marine posting a net loss of $84 million in the first half due to the COVID-19 shutdown, which closed all of its Singapore yards for months. September 2, 2019 ... Sembcorp Marine has also added three new gas projects to its portfolio. In these contracts, SembMarine teamed up with various repeat and new customers. The 376 megawatt Formosa 2, located 4 kilometers offshore Taiwan in the Taiwan Strait, will be Taiwan’s largest offshore wind farm, and is expected to generate enough electricity for more than 380,000 households when operation begins in late 2021, SembMarine said. The lull could finally be over for Sembcorp Marine if it manages to bag orders worth $3.5b in 2018 and see its profits increase 56% in 2019 to $136m, CIMB said. Sembcorp Marine Repairs & Upgrades obtained a project to refitting the Asuka II, Japan’s largest cruise ship, for NYK Cruises, the filing said. Sembcorp Marine provides innovative engineering solutions to the global offshore, marine and energy industries, the company’s website states. The refit will be executed over 45 days at Sembcorp Marine’s Admiralty Yard from January 2020, and will include installing a scrubber unit to comply with IMO’s 2020 sulphur cap. Sembcorp Marine wins new contracts valued around S$175 million 2019-02-25 12:20:07 General Announcement Financial Statements and Related Announcement::Full Yearly Results SINGAPORE (Sept 2): Sembcorp Marine has won a slew of new projects valued at $400 million ranging from engineering solutions for offshore gas and wind farm developments as well as cruise ship upgrades. The lull could finally be over for Sembcorp Marine if it manages to bag orders worth $3.5b in 2018 and see its profits increase 56% in 2019 to $136m, CIMB said. DOWNLOAD PDF. Singapore Hub and Supporting Yards (Indonesia), Leveraging a Resource Recovery Opportunity. 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. Around the Yards & Offices Get to know Sevan SSP, a Sembcorp Marine subsidiary in Norway. Lines and Karpower International, the filing said. SEMBCORP MARINE (SGX:S51)'s 2Q19 net loss of S$8.5m was below expectations. As mentioned at Sembcorp Marine's FY 2019 full-year results announcement on Feb 20, 2020, from FY 2020 onwards, the Group's 1Q and 3Q financial results A total of 74 vessels were repaired or upgraded at Sembcorp Marine yards in 1H 2020 (1H 2019: 153 vessels). Things look up for the firm because it is in the running for some sizeable projects, likely to be awarded in 2018. We previously expected full-year 2019 losses to be in the region of S$100-110m. August 26th, 2019 by Saurabh 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. 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. Sembcorp Marine Offshore Platforms Pte. 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. Posted By: Leslie Shaffer Monday, 2 September 2019 07:46:57. Sembcorp Marine almost doubled its net loss in 2019 from USD55 million (SGD74 million) in 2018 to USD100 million (SGD137 million). Lines (MOL) and Karpower International; conversion of NYK Line’s former gas carrier LNG Flora into a 127,000cbm floating … 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. in International Shipping News 03/09/2019 Sembcorp Marine has won a raft of new projects valued at S$400 million that leverage the Group’s wide-ranging engineering solutions for … Sembcorp Marine Limited SGX: S51 an Asian company based in Singapore.It is listed on the Singapore Exchange (SGX). This was partially offset by increased margin recognition from the newly secured floater projects and the write-back of provisions for completed projects,” Sembcorp Marine said. The projects aren’t expected to materially affect earnings per share for the current fiscal year, SembMarine said. In an Aug. 5, 2019… Singapore’s Sembcorp Marine secured the contract to build the hull, while Norway’s Kvaerner are fabricating the topside modules. There's no reason to own Sembcorp Marine (SembMarine) stocks yet, with the company likely to … Target Price: S$1.760. The lull could finally be over for Sembcorp Marine if it manages to bag orders worth $3.5b in 2018 and see its profits increase 56% in 2019 to $136m, CIMB said. The jacket foundations are scheduled to be delivered by December 2020, the filing said. November 1, 2019 Leave a Comment. CIMB has factored in $2.5b new … The potential first customer for Sembcorp Marine ’s Gravifloat LNG exporting Terminal – in Aug-2019, Poly-GCL tied up with new partner, China Communications Construction Company (CCCC), to invest in a majority stake in the project. On 22 October 2007, SembCorp Marine (“SCM”) announced that its former Director, Group Finance, Mr Wee Sing Guan, had entered into various unauthorised foreign exchange transactions (the “Unauthorised Transactions”) for the account of one of its wholly-owned subsidiaries, Jurong Shipyard Pte Ltd (“JSPL”). 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. Offshore Platforms also successfully delivered the Tangguh gas modules project in June 2020 from … While the S$400m worth of new contracts announced on 2 Sep 19 is positive in the medium term, we believe this does not presage a turning point in new-order flows for the industry. Media Releases Sembcorp's Climate Change Strategy. It’s lack of new orders and project delays spell continued losses for the company. Sembcorp said Tuesday its turnover had decreased predominantly due to lower revenue recognition from rigs and floaters and offshore platform projects, mitigated by higher repair and upgrade revenue. Click here to view Sembcorp Marine’s latest awards and achievements. CIMB has factored in $2.5b new orders in 2018. Singapore fabricator Sembcorp Marine has won a deal to fabricate 15 jacket foundations for the 378MW Formosa 2 offshore wind farm off Taiwan, its first contract in the market. With $2.5b in new orders pending, 2018 could be a big year. In 1Q 2019, Group revenue totalled $811 million, compared with $1.18 billion booked in 1Q 2018. These include conversion of LNG tanker Dwiputra into a 125,000cbm floating storage and regasification unit (FSRU) for a joint venture between Mitsui O.S.K. It's lack of new orders and project delays spell continued losses for the company. Singapore yard Sembcorp Marine made an overall loss of $192m in the first half of the year, despite revenue from its offshore platforms business growing 165% on last year to $130m on the back of contracts for jacket foundations and topsides for the Hornsea 2 offshore wind farm. The first contract will see it working with its customer North Oil Company (NOC) to fabricate two well-head platforms for the NOC-operated Al Shaheen oil field in Qatar. 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. PSR Recommendation: NEUTRAL Status: Maintained. Sembcorp Marine obtained new contracts valued at S$400 million from new and repeat customers including the offshore gas and wind farm developments and cruise ship upgrades, the company said in a filing to SGX Monday. Sembcorp Marine said it has won a raft of new projects valued at S$400 million (US$288 million) that includes floating production conversion projects, offshore wind farm jacket foundations fabrication and cruise ship upgrades. The new contracts of projects comprise the design and construction of a 12,000-cubic-metre LNG bunker vessel. CIMB has factored in $2.5b new … 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 lull could finally be over for Sembcorp Marine if it manages to bag orders worth $3.5b in 2018 and see its profits increase 56% in 2019 to $136m, CIMB said. It is the first newbuild of such a type … 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. Estaleiro Jurong Aracruz secures the ISO 9001:2015 certification. 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. 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. Things look up for the firm because it is in the running for some sizeable projects, likely to be awarded in 2018. In these latest undertakings, Sembcorp Marine has teamed up with various repeat and new customers. The project, which is scheduled for delivery in 2021’s second half, includes hull repairs and upgrading and fabricating at least three topside modules to be installed on the vessel, the filing said. 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. Order wins remain the critical factor; yard merger speculations have resurfaced. Sembmarine to Build LNG Bunker Tanker for MOL. Print. On June 21, 2019, Sembcorp Marine announced jointly with Sembcorp Industries Ltd (SCI) that it had secured a five-year subordinated loan facility totalling $2 billion from SCI, which will strengthen the Group's financial position. Among the projects, Sembcorp Marine Offshore Platforms landed a contract from Jan De Nul N.V. to fabricate 15 jacket foundations for the Formosa 2 Wind Farm, the filing said. New Contracts for Sembcorp Marine : Sete Brasil awards drillship contracts worth US$4.032 billion : Sembcorp Marine, through Jurong Offshore’s wholly owned subsidiaries, has secured contracts worth approximately US$4,032 million from Sete Brasil for the design and construction of five drillships. Sembcorp India Gets $100 Million For Renewable Energy, Commissions 200 Megawatt Wind Project. The company’s construction and repair projects have been qualified by quality assurance and risk management company DNV GL.As the company states in its release, the new development will allow them to unlock … Things look up for the firm because it is in the running for some sizeable projects, likely to be awarded in 2018. Marine and offshore engineering group Sembcorp Marine has received a certification for its 3D printed parts. Sembcorp Marine reported net profit of $2 million for the three months ended March 31, 2019 (1Q 2019), compared with net profit of $5 million for 1Q 2018. Things look up for the firm because it is in the running for some sizeable projects, likely to be awarded in 2018. 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. SCI is the largest shareholder of Sembcorp Marine with a 61% stake in the Company. To recap, Sembcorp Marine won new orders of S$1.18b in FY18 and S$750m in FY17. 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's lack of new orders and project delays spell continued losses for the company. It will have a production capacity of 190,000 bbl/d of oil, 290 MMcf/d of gas and storage of 1.1 MMbbl of crude. In these latest undertakings, Sembcorp Marine has teamed up with various repeat and new customers. Ltd. has clinched two offshore platform contracts worth over S$550 million that support redevelopment efforts at the Al … Reiterate BUY; Target Price lowered to S$1.90. Sembcorp Marine - UOB Kay Hian 2019-09-03: Secures New Contracts But Not At A Turning Point Yet. The second gas project is converting NYK Line’s former gas carrier LNG Flora into a floating storage unit for Gasfin development, while the third project was to upgrade the FSRU BW Magna for BW LNG, the filing said. Sembcorp Marine Rigs & Floaters signed deals with joint ventures of Shapoorji Pallonji Oil and Gas and Bumi Armada to convert a very large crude carrier (VLCC) into a floating production, storage and offloading (FPSO) unit to be deployed on India’s east coast, the filing said. Media Releases; Features; Multimedia Centre; Embracing Change Enabling the Future. Capping a disastrous end to 2019 Sembcorp Marine announced its 4Q19 results before the market opens on 20 February. The Nordsee Ost Offshore Wind Farm in the North Sea, another project by German utilities company RWE, seen in a 2015 file photo. Project Highlights Sembcorp Marine celebrates the successful completion of Kaombo Sul, the second of two Saipem-awarded FPSO conversion projects. The lull could finally be over for Sembcorp Marine if it manages to bag orders worth $3.5b … “The partnership with Jan De Nul on Formosa 2 represents our first exploit in the highly competitive Taiwanese offshore wind sector,” said Samuel Wong, Sembcorp Marine’s head of offshore platforms. 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. … Sembcorp Marine Repairs & Upgrades obtained a project to refitting the Asuka II, Japan’s largest cruise ship, for NYK Cruises, the filing said. Sembcorp Marine Long Service Awards recognise the contributions of employees who have been with the Group between 10 and 50 years. Nevertheless, Sembcorp Marine secured a total of S$1.5 billion worth of new contracts in 2019, compared to S$1.2 billion the year before. “Despite the challenging market conditions, we have been steadfastly pursuing the available pockets of opportunities. Orderbook (ex-Sete rigs) has dwindled to S$2.1bn; cut earnings forecasts for FY19/20. Rig builder Sembcorp Marine saw its net loss widen to $52.6 million for its third quarter ended Sept 30, from a $29.8 million net loss a year ago.. Read more at straitstimes.com. 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 . All three projects will be completed at Sembcorp Marine Admiralty Yard, for delivery between the end of 2019 and February 2020. 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. Sembcorp Marine has won a raft of new projects valued at S$400 million that leverage the Group’s wide-ranging engineering solutions for offshore gas and wind farm developments as well as cruise ship upgrades. Sembcorp India Gets $100 Million For Renewable Energy, Commissions 200 Megawatt Wind Project. 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. 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. CCCS approves Sembcorp unit's acquisition of Veolia ES Singapore. August 26th, 2019 by Saurabh In addition, SembMarine said it obtained three new gas projects. 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. Click on the download button to download the full Annual Report 2019. “This is an important opportunity to extend our engineering solutions into the Asian offshore renewable energy markets.”. The turret-moored FPSO will be 295 metres long with a beam of 54 metres and a total liquids handling capacity of around 245,000 bpd. The group also succeeded in breaking into the highly competitive offshore wind sector in Taiwan. Staff Spotlight Estaleiro Jurong Aracruz showcases its strong commitment towards the local community. 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 … Sembcorp Marine, which acquired Sevan SSP AS last year, has contracted KBR for topsides design and integration support with work performed from Singapore and … SCI is the largest shareholder of Sembcorp Marine with a 61% stake in the Company. Positives + S$175mn of new contracts secured in Feb-19. 25 Feb 2019. Energy; Urban; Press Contacts (65) 6723 3153; gscs@sembcorp.com; Follow us @Sembcorp for news and updates; Sembcorp Twitter Policy ; Sign up to receive alerts on Sembcorp news and events; Media. CIMB has factored in $2.5b new orders in 2018. There’s no reason to own Sembcorp Marine (SembMarine) stocks yet, with the company likely to continue incurring losses until H1 2021 as outlook remains bearish, analysts said. Sembcorp Marine - DBS Research 2019-07-31: Near-term Earnings Weakness. Sembcorp Marine Ltd – A soft start in 2019 May 6, 2019 1026. Offshore Platforms revenue was $130 million in 1H 2020, up 165% from 1H 2019 with higher revenue recognition from the Hornsea 2 wind farm project and new projects secured in 2H 2019. https://www.sembmarine.com/news-centre/publication/dolphin-february-2019 Approximately S$530 million of the new orders in 2019 were related to greener solutions including gas and renewable energy projects. THE BUSINESS TIMES Sembcorp Marine - Find Sembcorp Marine News & Headlines, insight and analysis in Singapore, Asia-Pacific & global markets news at The Business Times. News Updates Sembcorp Marine secured new contracts worth about S$175 million in February 2019, for projects comprising the design and construction of a 12,000-cubic-metre (cbm) LNG bunker vessel as well as repair and modernisation works. Sembmarine added the new vessel is expected to begin its first project in January 2020, providing subsea services off the coast of West Africa. THE BUSINESS TIMES Sembcorp Marine - Find Sembcorp Marine News & Headlines, insight and analysis in Singapore, Asia-Pacific & global markets news at The Business Times. The VLCC will produce up to 90,000 barrels of oil per day and have a storage facility for 1.3 million barrels, SembMarine said. Delivery for the three pojects is expected between the end of this year and February 2020, SembMarine said. Also, for the first half of the year, the company added $175 million in new orders, the amount Sembcorp Marine described as disappointing. Sembcorp Marine has won a raft of new projects valued at S$400 million that leverage the Group’s wide-ranging engineering solutions for offshore gas and wind farm developments as well as cruise ship upgrades. 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. This included converting an LNG tanker into a floating storage and regasification unit (FSRU) for a joint venture between Mitusi O.S.K. 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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