Sembcorp Marine Q4 Net Profit Up 9.2%

Marinelink.com
Monday, February 24, 2014

(Reuters) Singapore's Sembcorp Marine Ltd, one of the largest offshore drilling rig producers in the world, said its net profit in the fourth quarter rose 9.2 percent as higher operating profit offset lower contributions from associates and joint ventures.


Sembcorp Marine, which is the world's second-largest jackup rig producer after crosstown rival Keppel Corporation Ltd , posted a fourth-quarter net profit of S$182.4 million ($143.89 million). Its full-year net profit rose 3.2 percent to S$555.7 million, above a mean forecast of 23 analysts of S$528.50 million.


The company's order book fell to S$12.3 billion from the all-time high of S$13.5 billion a quarter earlier.


Sembcorp Marine is the second-worst performer so far this year on Singapore's benchmark Straits Times Index, losing about 8 percent after Genting Singapore PLC's 9 percent drop.


The company has received five analyst downgrades over the last 90 days, the most downgrades any Singaporean company has received during the period.


Singapore's state investor Temasek Holdings (Private) Ltd holds a 61 percent stake in Sembcorp Marine.
($1 = 1.2676 Singapore dollars)

(Reporting by Rujun Shen; Additional reporting by Tripti Kalro in Bangalore; Editing by Matt Driskill)

Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Pressure for Australia Sub Deal Grows

Australia to spend A$65 bln on ships and subs over 20 years; PM pledges A$40 bln for domestic shipbuilders. Australia will spend A$89 billion ($65 billion) on

Latest USCG Cutter At Boston Harbor

The Coast Guard’s latest 418-foot National Security Cutter James (WSML 754) entered Boston Harbor August 3, 2015. The James is the fifth of eight planned National

LNG Ferry Construction for Tallink Begins

The start of production of Tallink's new generation LNG powered fast ferry for the Tallinn-Helsinki route was celebrated on the 4th of August 2015 at Meyer Turku shipyard.

Offshore

CWind Joins National Workboat Association

Citing crew transfer services as an integral part of its offering, offshore wind industry service provider CWind announced it is now a member of the National Workboat Association (NWA) of the U.

BG Group Starts up Sixth FPSO in the Santos Basin

BG Group announced first oil from the Cidade de Itaguaí floating, production, storage and offloading (FPSO) vessel, the sixth unit to start production across the

BG Awards Fugro MBES, Seabed Coring Contract

Fugro has been awarded a contract by BG International Limited Sucursal Honduras to conduct an integrated multibeam echosounder (MBES) survey and seabed coring campaign

Finance

FURUNO of Japan Increases Investment in ENL

ENL Group and FURUNO Electric Co. Ltd of Japan have announced that FURUNO has increased its investment into the New Zealand company to a total of 29.5%. The

Pressure for Australia Sub Deal Grows

Australia to spend A$65 bln on ships and subs over 20 years; PM pledges A$40 bln for domestic shipbuilders. Australia will spend A$89 billion ($65 billion) on

S.Africa Considering Ship-Based Power Generation

South Africa could deploy power barges using gas to generate electricity to help overcome chronic supply shortages, a senior government official said on Tuesday.

Offshore Energy

Egypt Gets FSRU from BW Gas

Norway-based BW Gas will provide Egypt with a liquefied natural gas (LNG) floating import terminal under a five-year contract.   This comes as as the North African

CWind Joins National Workboat Association

Citing crew transfer services as an integral part of its offering, offshore wind industry service provider CWind announced it is now a member of the National Workboat Association (NWA) of the U.

Strategic Marine: Stock Program Full Power Ahead

Strategic Marine confirmed its stock program of personnel transport vessels is market-ready.  “Our stock program currently incorporates two class leading designs

 
 
Maritime Careers / Shipboard Positions Maritime Security Navigation Pipelines Port Authority Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1567 sec (6 req/sec)