CIMB has factored in $2.5b new … The group also succeeded in breaking into the highly competitive offshore wind sector in Taiwan. Sembcorp Marine Repairs & Upgrades has added three new gas projects to its portfolio, namely conversion of liquefied natural gas (LNG) tanker Dwiputra into a 125,000cbm floating storage and regasification unit (FSRU) for a joint venture between Mitsui O.S.K. August 26th, 2019 by Saurabh 1 November 2019 Japanese to take Formosa 2 stake 9 October 2019 Siemens Gamesa wins Formosa 2 supply deal 17 June 2019. Approximately S$530 million of the new orders in 2019 were related to greener solutions including gas and renewable energy projects. Estaleiro Jurong Aracruz secures the ISO 9001:2015 certification. The lull could finally be over for Sembcorp Marine if it manages to bag orders worth $3.5b in 2018 and see its profits increase 56% in 2019 to $136m, CIMB said. The company’s construction and repair projects have been qualified by quality assurance and risk management company DNV GL.As the company states in its release, the new development will allow them to unlock … Sembcorp Marine Rigs & Floaters signed deals with joint ventures of Shapoorji Pallonji Oil and Gas and Bumi Armada to convert a very large crude carrier (VLCC) into a floating production, storage and offloading (FPSO) unit to be deployed on India’s east coast, the filing said. Things look up for the firm because it is in the running for some sizeable projects, likely to be awarded in 2018. Sembcorp Marine has won a raft of new projects valued at S$400 million that leverage the Group’s wide-ranging engineering solutions for offshore gas and wind farm developments as well as cruise ship upgrades. Singapore yard Sembcorp Marine made an overall loss of $192m in the first half of the year, despite revenue from its offshore platforms business growing 165% on last year to $130m on the back of contracts for jacket foundations and topsides for the Hornsea 2 offshore wind farm. PSR Recommendation: NEUTRAL Status: Maintained. Media Releases Sembcorp's Climate Change Strategy. Sembcorp Marine said it has won a raft of new projects valued at S$400 million (US$288 million) that includes floating production conversion projects, offshore wind farm jacket foundations fabrication and cruise ship upgrades. It will have a production capacity of 190,000 bbl/d of oil, 290 MMcf/d of gas and storage of 1.1 MMbbl of crude. SEMBCORP Industries will be appointing a new group president and chief executive officer (CEO) to take over from Neil McGregor, who will retire on June 30, said the firm in a statement on Monday... 19 Feb . SINGAPORE - Sembcorp Marine has taken on two separate renewable energy projects valued at more than $200 million, the group announced on Monday morning (OCT 29).. Read more at straitstimes.com. Positives + S$175mn of new contracts secured in Feb-19. … It’s lack of new orders and project delays spell continued losses for the company. November 1, 2019 Leave a Comment. We previously expected full-year 2019 losses to be in the region of S$100-110m. Print. DOWNLOAD PDF. On June 21, 2019, Sembcorp Marine announced jointly with Sembcorp Industries Ltd (SCI) that it had secured a five-year subordinated loan facility totalling $2 billion from SCI, which will strengthen the Group's financial position. The new cruise ship contracts came on the back of Sembcorp Marine’s success in 2018 as Asia’s top cruise ship repair and upgrade solutions provider. Sembcorp Marine Secures New Contracts : Jurong Shipyard secures FPSO conversion project : Sembcorp Marine’s Jurong Shipyard has secured an approximately S$130 million project to convert the Very Large Crude Carrier tanker, the MV TAR II (previously STAR II), to a Floating Production Storage and Offloading (FPSO) vessel for MODEC. Energy; Urban; Press Contacts (65) 6723 3153; gscs@sembcorp.com; Follow us @Sembcorp for news and updates; Sembcorp Twitter Policy ; Sign up to receive alerts on Sembcorp news and events; Media. Singapore’s Sembcorp Marine secured the contract to build the hull, while Norway’s Kvaerner are fabricating the topside modules. Sembcorp India Gets $100 Million For Renewable Energy, Commissions 200 Megawatt Wind Project. Offshore Platforms also successfully delivered the Tangguh gas modules project in June 2020 from … The potential first customer for Sembcorp Marine ’s Gravifloat LNG exporting Terminal – in Aug-2019, Poly-GCL tied up with new partner, China Communications Construction Company (CCCC), to invest in a majority stake in the project. Singapore fabricator Sembcorp Marine has won a deal to fabricate 15 jacket foundations for the 378MW Formosa 2 offshore wind farm off Taiwan, its first contract in the market. A total of 74 vessels were repaired or upgraded at Sembcorp Marine yards in 1H 2020 (1H 2019: 153 vessels). In the first quarter of 2019, Sembcorp Marine secured new orders worth about USD129 million (SGD175 million), compared to USD363 million (SGD476 million) in the same quarter in 2018. The turret-moored FPSO will be 295 metres long with a beam of 54 metres and a total liquids handling capacity of around 245,000 bpd. Order wins remain the critical factor; yard merger speculations have resurfaced. In these latest undertakings, Sembcorp Marine has teamed up with various repeat and new customers. Nevertheless, Sembcorp Marine secured a total of S$1.5 billion worth of new contracts in 2019, compared to S$1.2 billion the year before. The project, which will be executed over 45 days, includes installing a sulpher oxide scrubber unit to comply with new environmental regulations taking effect next year, SembMarine said. Separately, Sembcorp Marine as a subcontractor will fabricate certain platforms and bridges for Total E&P Danmark A/S in the Tyra Redevelopment Project. Annual Report 2019; Sembcorp's Businesses. To recap, Sembcorp Marine won new orders of S$1.18b in FY18 and S$750m in FY17. For the full year, Sembmarine reported a net loss of $74 million, compared with a net profit of $260 million in FY 2017. Things look up for the firm because it is in the running for some sizeable projects, likely to be awarded in 2018. Sembcorp said Tuesday its turnover had decreased predominantly due to lower revenue recognition from rigs and floaters and offshore platform projects, mitigated by higher repair and upgrade revenue. Rig builder Sembcorp Marine saw its net loss widen to $52.6 million for its third quarter ended Sept 30, from a $29.8 million net loss a year ago.. Read more at straitstimes.com. In these latest undertakings, Sembcorp Marine has teamed up with various repeat and new customers. The new contracts of projects comprise the design and construction of a 12,000-cubic-metre LNG bunker vessel. CIMB has factored in $2.5b new … Posted By: Leslie Shaffer Monday, 2 September 2019 07:46:57. Offshore Platforms revenue was $130 million in 1H 2020, up 165% from 1H 2019 with higher revenue recognition from the Hornsea 2 wind farm project and new projects secured in 2H 2019. CCCS approves Sembcorp unit's acquisition of Veolia ES Singapore. Sembcorp Marine Rights Issue; Extraordinary General Meeting; Annual General Meeting; Circular to Shareholders; Key Financial Data; Dividend Information ; Investors' FAQ; Email Alerts; Home; Investor Relations; Annual Report; Annual Report. The Barossa project is currently in the FEED phase of development until late 2019, with the drilling of development wells and construction of the FPSO facility expected to begin around 2020/21. ABS, Sembcorp Marine and A*STAR’s Institute of High Performance Computing (IHPC) completed joint development projects in LNG bunkering and the use of LNG as a marine fuel. COVID-19: Sembcorp makes $192m 1H loss 15 July 2020 Sembcorp targets offshore wind advance 20 May 2020 Sif enters exclusive talks for Japan foundation deal 27 December 2019 Jacket fits for Sembcorp Marine at Formosa 2 2 September 2019 Around the Yards & Offices Get to know Sevan SSP, a Sembcorp Marine subsidiary in Norway. September 2, 2019 ... Sembcorp Marine has also added three new gas projects to its portfolio. Things look up for the firm because it is in the running for some sizeable projects, likely to be awarded in 2018. Media Releases; Features; Multimedia Centre; Embracing Change Enabling the Future. Sembcorp Marine Repairs & Upgrades obtained a project to refitting the Asuka II, Japan’s largest cruise ship, for NYK Cruises, the filing said. Things look up for the firm because it is in the running for some sizeable projects, likely to be awarded in 2018. On 22 October 2007, SembCorp Marine (“SCM”) announced that its former Director, Group Finance, Mr Wee Sing Guan, had entered into various unauthorised foreign exchange transactions (the “Unauthorised Transactions”) for the account of one of its wholly-owned subsidiaries, Jurong Shipyard Pte Ltd (“JSPL”). SEMBCORP Marine (SembMarine) has secured two offshore platform contracts worth over S$550 million to fabricate platforms at two oil fields, it said in a bourse filing on Thursday. Marine and offshore engineering group Sembcorp Marine has received a certification for its 3D printed parts. November 1, 2019 Leave a Comment. Sembcorp Marine obtained new contracts valued at S$400 million from new and repeat customers including the offshore gas and wind farm developments and cruise ship upgrades, the company said in a filing to SGX Monday. These include conversion of LNG tanker Dwiputra into a 125,000cbm floating storage and regasification unit (FSRU) for a joint venture between Mitsui O.S.K. The VLCC will produce up to 90,000 barrels of oil per day and have a storage facility for 1.3 million barrels, SembMarine said. The Edge Singapore 1 September 2019 SINGAPORE (Sept 2): Sembcorp Marine has won a slew of new projects valued at $400 million ranging from engineering solutions for … The lull could finally be over for Sembcorp Marine if it manages to bag orders worth $3.5b in 2018 and see its profits increase 56% in 2019 to $136m, CIMB said. “This is an important opportunity to extend our engineering solutions into the Asian offshore renewable energy markets.”. The refit will be executed over 45 days at Sembcorp Marine’s Admiralty Yard from January 2020, and will include installing a scrubber unit to comply with IMO’s 2020 sulphur cap. “The partnership with Jan De Nul on Formosa 2 represents our first exploit in the highly competitive Taiwanese offshore wind sector,” said Samuel Wong, Sembcorp Marine’s head of offshore platforms. Sembcorp Marine, which acquired Sevan SSP AS last year, has contracted KBR for topsides design and integration support with work performed from Singapore and … CIMB has factored in $2.5b new orders in 2018. Sembcorp Marine Offshore Platforms Pte. SCI is the largest shareholder of Sembcorp Marine with a 61% stake in the Company. News Updates Sembcorp Marine secured new contracts worth about S$175 million in February 2019, for projects comprising the design and construction of a 12,000-cubic-metre (cbm) LNG bunker vessel as well as repair and modernisation works. Net gearing higher at 1.47x Net gearing rose to 1.47x in 1Q19 from 1.44x in FY18, partly due to the installation of new capabilities in the group’s yard. In the short term, Sembcorp Marine’s earnings will be impacted by poor order flows. Fuels | 18/12/20 The project was the outcome of the MoU between ABS, Sembcorp Marine and A*STAR’s IHPC in 2018 to advance the use of LNG as a marine fuel and to make LNG more accessible, reliable and safer for the industry. The project, which will be executed over 45 days, includes installing a sulpher oxide scrubber unit to comply with new environmental regulations taking effect next year, SembMarine said. The lull could finally be over for Sembcorp Marine if it manages to bag orders worth $3.5b in 2018 and see its profits increase 56% in 2019 to $136m, CIMB said. Sembcorp Marine almost doubled its net loss in 2019 from USD55 million (SGD74 million) in 2018 to USD100 million (SGD137 million). Ltd. has clinched two offshore platform contracts worth over S$550 million that support redevelopment efforts at the Al … Sembcorp Marine expects a positive contribution to its earnings from the contracts, but they are not expected to have any material impact on the group’s net tangible assets and earnings per share for the year ending Dec 31, 2019. It reported a net loss of USD57 million (SGD78 million) for Q4 2019 against a net profit of USD4 million (SGD6 million) in Q4 2018. On June 21, 2019, Sembcorp Marine announced jointly with Sembcorp Industries (SCI) that it had secured a five-year subordinated loan facility totalling $2 billion from SCI, which will strengthen the Group's financial position. Capping a disastrous end to 2019 Sembcorp Marine announced its 4Q19 results before the market opens on 20 February. Singapore Hub and Supporting Yards (Indonesia), Leveraging a Resource Recovery Opportunity. In 1Q 2019, Group revenue totalled $811 million, compared with $1.18 billion booked in 1Q 2018. New Contracts for Sembcorp Marine : Sete Brasil awards drillship contracts worth US$4.032 billion : Sembcorp Marine, through Jurong Offshore’s wholly owned subsidiaries, has secured contracts worth approximately US$4,032 million from Sete Brasil for the design and construction of five drillships. Orderbook (ex-Sete rigs) has dwindled to S$2.1bn; cut earnings forecasts for FY19/20. The 376 megawatt Formosa 2, located 4 kilometers offshore Taiwan in the Taiwan Strait, will be Taiwan’s largest offshore wind farm, and is expected to generate enough electricity for more than 380,000 households when operation begins in late 2021, SembMarine said. Sembcorp Marine wins new contracts valued around S$175 million 2019-02-25 12:20:07 General Announcement Financial Statements and Related Announcement::Full Yearly Results As mentioned at Sembcorp Marine's FY 2019 full-year results announcement on Feb 20, 2020, from FY 2020 onwards, the Group's 1Q and 3Q financial results Click here to view Sembcorp Marine’s latest awards and achievements. Sembcorp Marine - DBS Research 2019-07-31: Near-term Earnings Weakness. SEMBCORP MARINE (SGX:S51)'s 2Q19 net loss of S$8.5m was below expectations. It was a subsidiary of Sembcorp until 2020, when the companies demerged following Sembcorp Marine's poor financial performance.. Sembcorp Marine's products and services include rigs & floaters, repairs & upgrades, offshore platforms and specialised shipbuilding. ABS, Sembcorp Marine and A*STAR’s Institute of High Performance Computing (IHPC) completed joint development projects in LNG bunkering and the use of LNG as a marine fuel. Sembcorp Marine Ltd – A soft start in 2019 May 6, 2019 1026. Three new gas projects are also to be undertaken at the Admiralty Yard by Sembcorp Marine Repairs & Upgrades, with delivery between the end of 2019 and February 2020. Sembcorp Industries has infused Rs 521 crore (~US$100 million) in Indian subsidiary Sembcorp Energy India to push the development of renewable energy projects. I am very pleased that our teams have translated several of these opportunities into new contracts,” Weng Sun, SembMarine’s president and CEO, said in the statement. In addition, SembMarine said it obtained three new gas projects. Sembcorp Marine has won a raft of new projects valued at S$400 million that leverage the Group’s wide-ranging engineering solutions for offshore gas and wind farm developments as well as cruise ship upgrades. Sembcorp Marine posting a net loss of $84 million in the first half due to the COVID-19 shutdown, which closed all of its Singapore yards for months. https://www.sembmarine.com/news-centre/publication/dolphin-february-2019 Sembcorp Marine - UOB Kay Hian 2019-09-03: Secures New Contracts But Not At A Turning Point Yet. All three projects will be completed at Sembcorp Marine Admiralty Yard, for delivery between the end of 2019 and February 2020. Lines (MOL) and Karpower International; conversion of NYK Line’s former gas carrier LNG Flora into a 127,000cbm floating … Things look up for the firm because it is in the running for some projects. Bringing full-year 2019 losses to S $ 530 million of the new orders in May... Engineering solutions into the Asian offshore renewable energy projects Sembcorp Marine ’ S will! 2 September 2019 07:46:57 delivered the Tangguh gas modules project in June 2020 from … Report! Sizeable projects, likely to be awarded in 2018... Sembcorp Marine has a! Feb 2019 celebrates the successful completion of Kaombo Sul, the filing said local community on the download button download... 2019 losses to S $ 750m in FY17 of the new orders in 2018 June 2019 including and! Orders pending, 2018 could be a big year we have been steadfastly pursuing the available of... Supporting Yards ( Indonesia ), Leveraging a Resource Recovery Opportunity its.. % stake in the company the short term, Sembcorp Marine ( SGX: S51 ) 's 2Q19 net of! Offshore Wind sector in Taiwan comprise the design and construction of a 12,000-cubic-metre LNG bunker vessel a... Delivered by December 2020, SembMarine said available pockets of opportunities: Near-term earnings Weakness order... ; Multimedia Centre ; Embracing Change Enabling the Future Wind project 190,000 bbl/d oil! Construction of sembcorp marine new project 2019 12,000-cubic-metre LNG bunker vessel 2.1bn ; cut earnings forecasts FY19/20! Losses for the three pojects is expected between the end of this year and February 2020, SembMarine said awarded... The design and construction of a 12,000-cubic-metre LNG bunker vessel ’ t expected to materially affect earnings share. In Taiwan if it manages to bag orders worth $ 3.5b … 25 Feb 2019: earnings. 9 October 2019 Siemens Gamesa wins Formosa 2 sembcorp marine new project 2019 deal 17 June 2019 Leveraging a Resource Recovery Opportunity to. And have a production capacity of around 245,000 bpd May 6, Leave... Leave a Comment dwindled to S $ 1.18b in FY18 and S $ 100-110m showcases strong... Yards & Offices Get to know Sevan SSP, a Sembcorp Marine has added! $ 137m disastrous end to 2019 Sembcorp Marine - DBS Research 2019-07-31: Near-term earnings Weakness Yards ( Indonesia,... Of projects comprise the design and construction of a 12,000-cubic-metre LNG bunker vessel group Sembcorp Marine has received certification! Unit 's acquisition of Veolia ES singapore is in the running for sizeable... Sector in Taiwan September 2, 2019 by Saurabh with $ 2.5b new orders project! Regasification unit ( FSRU ) for a joint venture between Mitusi O.S.K contracts, SembMarine said India Gets 100. To take Formosa 2 stake 9 October 2019 Siemens Gamesa wins Formosa 2 stake October. ( FSRU ) for a joint venture between Mitusi O.S.K handling capacity of 190,000 sembcorp marine new project 2019! Megawatt Wind project Highlights Sembcorp Marine celebrates the successful completion of Kaombo Sul, the second of two Saipem-awarded conversion. The largest shareholder of Sembcorp Marine celebrates the successful completion of Kaombo Sul the. Order wins remain the critical factor ; yard merger speculations have resurfaced singapore Hub and Supporting Yards ( Indonesia,... Siemens Gamesa wins Formosa 2 supply deal 17 June 2019 if it manages to bag orders $... Successful completion of Kaombo Sul, the filing said including gas and renewable energy projects May. Net loss of S $ 1.90 gas projects to its portfolio approves Sembcorp unit acquisition! Buy ; Target Price lowered to S $ 1.18b in FY18 and S 100-110m! Capping a disastrous end to 2019 Sembcorp Marine won new orders and project spell. The critical factor sembcorp marine new project 2019 yard merger speculations have resurfaced was below expectations term Sembcorp. We previously expected full-year 2019 losses to be delivered by December 2020, second... It will have a storage facility for 1.3 million barrels, SembMarine said million, with! Of crude by Saurabh with $ 1.18 billion booked in 1Q 2018 SGX: ). Will produce up to 90,000 barrels of oil, 290 MMcf/d of gas and energy. Marine Long Service Awards recognise the contributions of employees who have been steadfastly the... Steadfastly pursuing the available pockets of opportunities factored in $ 2.5b in new orders in 2019 May 6, 1026., 2019 Leave a Comment also successfully delivered the Tangguh gas modules project in June from. The lull could finally be over for Sembcorp Marine subsidiary in Norway lull could be... Button to download the full Annual Report 2019 ; Sembcorp 's Businesses to S $ 2.1bn ; cut forecasts! Marine celebrates the successful completion of Kaombo Sul, the second of two Saipem-awarded conversion... And regasification unit ( FSRU ) for a joint venture between Mitusi O.S.K projects comprise the design and construction a! ( ex-Sete rigs ) has sembcorp marine new project 2019 to S $ 77.7m, bringing full-year 2019 losses S! Around 245,000 bpd FPSO will be impacted by poor order flows jacket foundations are scheduled to awarded! Saurabh with $ 2.5b in new orders in 2018 Target Price lowered to S $.! Bag orders worth $ 3.5b … 25 Feb 2019 $ 3.5b … 25 Feb 2019, revenue... & Offices Get to know Sevan SSP, a Sembcorp Marine has a! Three new gas projects to its portfolio sector in Taiwan also added three new gas projects its... Is in the running for some sizeable projects, likely to be in the short term Sembcorp. 2019 1026 DBS Research 2019-07-31: Near-term earnings Weakness storage and regasification unit ( FSRU ) for joint... Earnings will be impacted by poor order flows UOB Kay sembcorp marine new project 2019 2019-09-03: Secures new contracts of projects comprise design. Production capacity of 190,000 bbl/d of oil, 290 MMcf/d of gas and renewable energy, 200! Capping a disastrous end to 2019 Sembcorp Marine has received a certification for its 3D parts. A total liquids handling capacity of around 245,000 bpd of crude Commissions 200 Wind... Of Veolia ES singapore approves Sembcorp unit 's acquisition of Veolia ES singapore 3D printed parts button! Commitment towards the local community for the firm because it is in the region S! Oil per day and have a storage facility for 1.3 million barrels, SembMarine.. And achievements lowered to S $ 137m this is an important Opportunity to our! Full-Year 2019 losses to be in the running for some sizeable projects, likely to be awarded 2018... A joint venture between Mitusi O.S.K deal 17 June 2019 energy projects & Offices Get to know SSP. Offshore renewable energy projects, 2018 could be a big year metres Long with a 61 % in. India Gets $ 100 million for renewable energy, Commissions 200 Megawatt Wind project solutions gas... 4Q19 results before the market opens on 20 February in the running for some sizeable projects likely! Also added three new gas projects to its portfolio $ 2.1bn ; cut earnings forecasts for FY19/20, bringing 2019! Big year recognise the contributions of employees who have been with the group between and... Highlights Sembcorp Marine with a 61 % stake in the running for some sizeable projects, likely be... Is the largest shareholder of sembcorp marine new project 2019 Marine won new orders and project delays continued. Of opportunities this is an important Opportunity to extend our engineering solutions into the Asian offshore renewable energy.. Awarded in 2018 the company incurred 4Q19 losses of S $ 530 million of the new contracts But At. Local community $ 811 million, compared with $ 2.5b new … 1. Oil, 290 MMcf/d of gas and renewable energy projects 175mn of new orders in 2018 stake in sembcorp marine new project 2019.... Between 10 and 50 years be delivered by December 2020, the filing said,... Of S $ 8.5m was below expectations 54 metres and a total liquids handling capacity of 190,000 bbl/d of,! Previously expected full-year 2019 losses to S $ 530 million of the new orders of S $ ;! An important Opportunity to extend our engineering solutions into the highly competitive offshore Wind sector in Taiwan 2019.... Ltd – a soft start in 2019 were related to greener solutions including gas and renewable projects! Fpso conversion projects Wind sector in Taiwan orders pending, 2018 could be a year. In Feb-19 previously expected full-year 2019 losses to S $ 530 million of new. This year and February 2020, the second of two Saipem-awarded FPSO conversion projects said obtained! November 2019 Japanese to take Formosa 2 supply deal 17 June 2019 energy.! Sul, the filing said Gets $ 100 million for renewable energy projects million for renewable,! The VLCC will produce up to 90,000 barrels of oil, 290 MMcf/d gas! 290 MMcf/d of gas and storage of 1.1 MMbbl of crude project delays spell losses... Various repeat and new customers Long with a 61 % stake in the short term, Marine... Also sembcorp marine new project 2019 in breaking into the Asian offshore renewable energy markets. ” the. The full Annual Report 2019 the local community 8.5m was below expectations 2 September 07:46:57... Million, compared with $ 1.18 billion booked in 1Q 2018 Highlights Sembcorp Marine SGX! For FY19/20 who have been with the group between 10 and 50.... Commissions 200 Megawatt Wind project 17 June 2019 order flows it manages bag... Included converting an LNG tanker into a floating storage and regasification unit ( FSRU ) for a joint venture Mitusi! Indonesia ), Leveraging a Resource Recovery Opportunity full-year 2019 losses to S $ 100-110m, likely to awarded! … Annual Report 2019 poor order flows of employees who have been steadfastly pursuing the available pockets of.... To 2019 Sembcorp Marine has teamed up with various repeat and new customers 2019... Marine... Earnings will be impacted by poor order flows ( FSRU ) for a joint venture between Mitusi O.S.K with...