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News - Detailed News Story

Sembcorp Marine

Stock Chart
Last Done 1.190
Change - (-)
Volume 963.5
Range 1.180 - 1.200

SembMarine bags 6 contracts worth S$400m

04 Sep 2019 09:00

By Fiona Lam

SEMBCORP Marine (SembMarine) has snagged six new projects valued at a total of S$400 million, to provide engineering solutions for offshore gas and wind farm developments as well as cruise ship upgrades.

With the latest contracts, SembMarine has entered the "highly competitive" offshore wind sector in Taiwan, and is also partnering both repeat and new customers, the group said in a filing on Monday morning.

One of the contracts is for a floating production, storage and offloading (FPSO) conversion project with the joint venture (JV) companies of Shapoorji Pallonji Oil & Gas and Bumi Armada.

Sembcorp Marine Rigs & Floaters will convert a very large crude carrier into an FPSO unit for deployment in the east coast of India. The work will be done at the Tuas Boulevard Yard, with delivery scheduled in the second half of 2021.


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Source: Business Times
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