Sembcorp Marine sees signs of recovery in offshore drilling market

Singapore’s Sembcorp Marine returned to profit in the third quarter 2017, posting a net profit of $2.7 million, versus a net loss of $21.8 million a year ago. 

The offshore rig builder’s turnover was $316.9 million, down from $888 million a year ago. The lower revenue was due to lower rig building revenue, fewer floater and offshore platforms projects, and revenue reversal for two jack-up rigs which were terminated with a customer during the quarter.

Read more

Categories: Uncategorized

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: