Sembcorp Marine swings to loss

Singapore’s rig builder Sembcorp Marine posted a loss for the second quarter of 2018 despite recording a significant increase in revenues during the period.

The company on Friday posted a net loss of $55.6 million for the second quarter of the year compared to a profit of $5.1 million in the same period a year ago. The loss was due to booking of a loss of $27 million upon the sale of the West Rigel, as well as lower volume of activities.

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