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Sembcorp Marine News

05 Dec 2023

Seatrium Names Adrian Teng CFO

(File photo: Seatrium)

Singaporean shipbuilding group Seatrium announced it has appointed Adrian Teng as Chief Financial Officer (CFO), effective January 1, 2024.Teng brings over two decades of diverse international experience in strategy, finance, restructuring, operations and corporate management across developed and emerging markets. Prior to his current appointment, Teng was Group Chief Financial Officer and Chief Operating Officer of Clifford Capital Holdings, with responsibilities in finance, treasury…

28 Aug 2023

Offshore Wind: US Shipbuilders Answering the Call

From left to right: Lasse Petterson, CEO of Great Lakes Dredge and Dock; Rep. Mary Gay Scanlon, D-Pa.; President Joe Biden; and Steinar Nerbovik, CEO of Philadelphia Shipyard (Photo: Philly Shipyard)

It’s a big deal when a U.S. president visits an American shipyard, and these trips always send a message. When President Obama spoke at HII’s Newport News Shipbuilding in 2013, he warned of the consequences of sequestration. President Trump’s 2020 speech at Fincantieri Marinette Marine touted a $5.5 billion naval contract that gave a welcome boost to the Wisconsin shipyard and its supply chain partners. Most recently, President Biden traveled to Philadelphia’s Philly Shipyard…

27 Jul 2023

Keppel Profit Soars on One-off Gain from O&M Unit Sale

© Punkbarby / Adobe Stock

Singapore's Keppel Corp KPLM.SI on Thursday reported a more than seven-fold jump in its first-half profit boosted by a one-off gain from the sale of its offshore and marine (O&M) unit and strong performance from the infrastructure business.Keppel sold its offshore and marine business in February for S$4.50 billion ($3.40 billion) to Sembcorp Marine, recognising a gain of S$3.3 billion, as it aims to transform into an asset manager overseeing $150 billion by 2030 and focus on green energy.It managed S$53.2 billion in funds as of June 30.In May…

21 Jun 2023

Transocean's Deepwater Titan Begins Inaugural Contract for Chevron

Deepwater Titan (Photo: Transocean)

Offshore drilling contractor Transocean said its new eighth-generation drillship Deepwater Titan has started its inaugural contract with supermajor Chevron in the U.S. Gulf of Mexico.Built by Singapore's Sembcorp Marine and delivered to Transocean subsidiary Triton Titan GmBH in December 2022, Deepwater Titan is the world’s second eighth-generation drillship, constructed based on the builder’s Jurong Espadon 3T design.The dual-derrick ultra-deepwater drillship is the first-ever unit delivered with two 20…

06 Jun 2023

Brunvoll to Equip Brazilian Research Support Vessel

Brunvoll's Integrated Costa Propulsion (ICP). (Image: Brunvoll AS)

Norway-based Brunvoll said it has secured an "extensive" contract with shipbuilder Estaleiro Jurong Aracruz LTDA in Brazil for the delivery of a propulsion and maneuvering package for the Brazilian Ministry of Defense’s new Antarctic Research Support vessel.The delivery from Brunvoll comprises a variety of its own products and from its partners. Low noise and vibration levels arecrucial for conducting scientific research onboard an oceangoing vessel. Utilizing a fixed pitch propeller…

20 Apr 2023

Keppel's Profit Boosted by Sale of Offshore & Marine Business

Credit: Keppel O&M

Singaporean conglomerate Keppel Corp Ltd on Thursday posted a higher net profit for the first quarter, boosted by a significant one-off gain recognized from the sale of its offshore & marine unit.In February, Sembcorp Marine completed a S$4.50 billion ($3.37 billion) buyout of Keppel's offshore & marine unit after receiving the necessary shareholder approvals.Keppel recognized a gain of S$3.3 billion and received S$500 million of cash in the first quarter following the transaction, it said.The company did not disclose a profit figure, but said that revenue for the quarter was S$2.26 billion, u

03 Apr 2023

Sembcorp Marine Proposes Name Change Following Merger with Keppel Offshore & Marine

©Sembmarine (File photo)
/AdobeStock

Singapore-based Sembcorp Marine said Monday it was proposing to change its name from “Sembcorp Marine Ltd” to “Seatrium Limited."This follows the completion of the combination of the company's businesses and Keppel Offshore & Marine Ltd on February 28, 2023, and will adopt a new branding for the enlarged entity."The proposed change of name is subject to shareholders’ approval and will not affect the identity of the Company or any of its rights and obligations, nor will it affect any of the rights of shareholders or the Group’s daily business operations and financial standing…

28 Feb 2023

Singapore's Keppel Completes $3.34B Sale of Offshore Unit to Sembmarine

(Photo: Keppel Offshore & Marine)

Singapore's Keppel Corp said on Tuesday that Sembcorp Marine (Sembmarine) has completed a S$4.50 billion ($3.34 billion) buyout of its offshore & marine unit after receiving the necessary shareholder approvals. ($1 = 1.3484 Singapore dollars) (Reuters - Reporting by Jaskiran Singh in Bengaluru; Editing by Savio D'Souza)Sembcorp Marine to Buy Keppel Offshore & Marine for $3.2B, Scraps Merger Plan

27 Feb 2023

Chevron Aims to Shrink the Carbon Footprint of Its LNG Fleet

(Photo: Chevron Shipping Company LLC)

Chevron's shipping arm has set out to reduce the carbon intensity of its liquefied natural gas (LNG) fleet operations.The U.S.-based supermajor said Chevron Shipping Company has entered into an agreement with Singapore's Sembcorp Marine Repairs & Upgrades to install new technologies aboard its vessels, such as a reliquefication system, hull air lubrication and a new gas compressor, that are together expected to reduce cargo boil-off, lower fuel consumption and increase volumes…

30 Jan 2023

Sembcorp Marine Names LNG Hybrid Tug in Singapore

(Photo: Sembcorp Marine)

Sembcorp Marine celebrated the naming of JMS Sunshine, its first of a series of LNG hybrid tugs specially designed for domestic service in Singapore.Sembcorp Marine commissioned the design and build of the world’s first LNG hybrid tug in 2018, and the company plans to build a fleet of tugs to progressively replace the existing diesel-powered fleet operated by Jurong Marine Services (JMS), a wholly owned subsidiary of Sembcorp Marine Ltd and a licensed operator of the Maritime and Port Authority of Singapore.

30 Dec 2022

Sembcorp Delivers 8th-generation Drillship Deepwater Titan to Transocean

Deepwater Titan (Photo: Sembcorp Marine)

Singapore-based shipbuilder Sembcorp Marine has delivered Deepwater Titan, the world’s second 8th-generation drillship, to Transocean subsidiary Triton Titan GmBH.Deepwater Titan is the second of two new 8th-generation drillships constructed by Sembcorp Marine based on the group’s Jurong Espadon 3T design. The dual-derrick drillship is the first-ever unit delivered with two 20,000-psi blowout preventers (BOPs), well-control, riser and piping systems for high-pressure and high-temperature drilling and completion operations.

13 Dec 2022

Great Ships '22: Deepwater Atlas, “World’s First Eighth-Gen Ultra-Deepwater Drillship”

A Look inside the Deepwater Atlas, “World’s First Eighth-Generation Ultra-Deepwater Drillship”. Image courtesy Transocean

Marijana Sosic, Manager, Technical Marketing at Transocean, discusses some of the outstanding features of the Deepwater Atlas – Built in Singapore at Sembcorp Marine's Jurong Shipyard and flying the Marshall Islands flag – and sister-ship Deepwater Titan , which together represent an investment of more than $2 billion.The Deepwater Atlas was launched this year in Singapore. What, specifically, is so special about it?The Deepwater Atlas is the first of its kind eighth-generation drillship that will offer 20,000 psi well control capabilities and a 3.4 million pound hoisting capacity.

12 Dec 2022

Shell's 34,000t North Sea-bound Penguins FPSO Leaves Chinese Shipyard

Credit: Boskalis (supplied)

Shell's Penguins FPSO has set sail from China loaded aboard Boskalis' White Marlin semi-submersible heavy transportation vessel.In a social media post on Thursday, Boskalis said: "Boskalis’ semi-submersible transport vessel White Marlin departed from Qingdao, China with an impressive cargo; the 34,000-ton cylinder-shaped Shell Penguins FPSO. After a smooth and safe float-on and [seafastening] campaign, the vessel started her journey to Norway." At the time of writing, the White Marlin was sailing past the east coast of Taiwan…

14 Nov 2022

Fortunes Return to the Sea as the Wind Blows Offshore

© Cavan / Adobe Stock

The results of fortunes and failures are often described as a “perfect storm”. The COVID pandemic, domestic inflation, labor issues and current geopolitical events have brought that description to a peak. A promise of a “new normal” emerged post pandemic, with a vision of alternative energy, alternative fuels and alternative supply chain logistics to help toward solving some of the problems, heralding a world of change with reduced emissions, government support and the end of fossil fuels as we know them in energy and marine operations.With those promises came big movements in the U.S.

01 Nov 2022

NFE's Louisiana Offshore LNG Plant Start-up Slips to 2H 2023

Credit: New Fortress Energy(file Image)

U.S. firm New Fortress Energy Inc's proposed Louisiana offshore liquefied natural gas (LNG) facility likely will not begin operation until the second half of 2023, people familiar with the matter said on Monday.The 2.8 million tonne per year export project initially was proposed to start next March but has faced delays during its permit review. U.S. regulators on Friday lifted a stop-clock order. The soonest the facility could begin producing LNG, assuming no further delays, is the second half of next year, one of the people said. The U.S.

28 Oct 2022

World's First 8th Generation Drillship Starts Maiden Contract

Deepwater Atlas - ©Transocean (supplied)

Offshore drilling company Transocean said Thursday that its Deepwater Atlas, the world's first 8th generation drillship, had started its first contract.The offshore drilling rig, delivered by Singapore's Sembcorp Marine in June, is under a contract with Beacon Offshore Energy in the U.S. Gulf of Mexico.The Deepwater Atlas is the first of two ultra-deepwater drillships based on the Sembcorp Marine's Jurong Espadon 3T design. The second, also owned by Transocean, is the Deepwater Titan.The Deepwater Atlas has a hook-load lifting capacity of three million pounds.

27 Oct 2022

Sembcorp Marine to Buy Keppel Offshore & Marine for $3.2B, Scraps Merger Plan

©Sembmarine (File photo)

Singapore's Sembcorp Marine (Sembmarine) scrapped a deal to merge with Keppel Corp's offshore and marine unit and form new company, in favour of directly buying the unit for S$4.50 billion ($3.19 billion), the Temasek-backed oil rig builder said on Thursday. The new structure also lowers the value of Keppel's unit by S$378 million from the S$4.87 billion valuation it got according to the terms of the previous agreement struck in April, Sembmarine said. This deal gives Sembmarine's shareholders a bigger stake –– of 46% stake…

18 Oct 2022

Gallery: Itapu Oil Field FPSO Leaves Shipyard (Brazil)

©Sembcorp Marine

Estaleiro Jurong Aracruz (EJA), a Brazilian subsidiary of Singapore's Sembcorp Marine, has completed the construction of the P-71 FPSO, integrating topsides on the China-built hull.The new FPSO vessel left the EJA shipyard on Tuesday. It will be deployed at Petrobras' ultra-deepwater Itapu field in Brazil’s Santos Basin. When operational, the P-71 will produce up to 150,000 barrels of oil per day (BOPD).The P-71 measures 316m by 54m and can store 1.6 million barrels. The FPSO can accommodate 166 people.Estaleiro Jurong Aracruz's P-71 work scope included the construction of six modules…

05 Oct 2022

Petrobras Orders 10th FPSO for Búzios Field

©Ranimiro/AdobeStock

Brazilian oil and gas company Petrobras has ordered a floating, production, storage, and offloading (FPSO) vessel from Singapore's Sembcorp Marine Rigs & Floaters.The FPSO, named P-82, will be deployed at the giant Búzios oil field, in the Santos Basin pre-salt area, offshore Brazil.Worth US$3.05 billion (S$4.25 billion) the P-82 is the largest contract secured by Sembcorp Marine from PetrobrasThe P-82 will have the capacity to produce up to 225 thousand barrels of oil per day, process up to 12 million m³of  gas per day, and store more than 1.6 million barrels.

04 Oct 2022

Brassavola LNG Bunker Vessel Named in Singapore

Credit: TotalEnergies

TotalEnergies Marine Fuels has moved closer to starting its LNG bunkering services in  Singapore, following a ship naming ceremony of the Brassavola LNG bunker vessel that was held at Sembcorp Marine’s Tuas Boulevard Yard on Tuesday.Measuring 116.5m in length and 22m in width with a capacity of 12,000m3, the ship will be the largest LNG bunker vessel for use in service in the Port of Singapore. The Brassavola is scheduled to be operational in the first quarter of 2023. Louise Tricoire…

28 Jul 2022

Keppel Posts 66% Jump in First-half Profit

(File photo: Keppel Offshore & Marine)

Singaporean conglomerate Keppel Corp on Thursday reported a first-half profit that rose 66%, helped by higher earnings across most of its main businesses and a rebound at its offshore & marine (O&M) unit.Keppel, which traces its roots to a small ship repair yard corporatized in 1968, has seen its renewable energy and asset management units bounce back this year, offsetting a decline in its urban development business."In an extended inflationary environment, demand for real assets with cash flow, such as those which Keppel develops, operates and manages, will continue to grow," Chief Executive

11 Aug 2022

Sembcorp Marine Cuts Losses as Easing COVID Curbs Aid Project Deliveries

(Photo: Sembcorp Marine)

Singapore's Sembcorp Marine Ltd (Sembmarine) said on Friday its half-year loss narrowed 78% from a year earlier, as the oil rig builder finished delayed projects after pandemic curbs were eased while also benefiting from cost management.The company said its overall order visibility has improved on the back of rising oil prices and renewed concerns about energy security amid geopolitical tensions.Sembmarine has been a loss-making business since it posted an annual loss in 2018, in an industry plagued by oil price volatility, a drop in new orders, and the pandemic's impact.The company on Friday

16 Aug 2022

Steerprop's Propulsion Package for Maersk's First Offshore Wind Installation Vessel

Steerprop, a designer and manufacturer of high-performance propulsion systems, has won a major order to supply the complete propulsion package for Maersk Supply Service's recently ordered Wind Installation Vessel (WIV). Singapore-based Sembcorp Marine Ltd, which has secured a contract for the construction of the vessel for Maersk Supply Service, ordered the propulsion package from Steerprop.Steerprop's scope includes six ducted L-drive azimuth propulsors with an output power of 4500 kW and two 900 kW Steerprop Tunnel Thrusters for dynamic positioning…