Sembcorp Marine inks a $385.5 million worth of deal

SMM won an order to build a semi-submersible well intervention rig for Helix Energy Solutions.

The unit is scheduled for delivery in Jan 2015 and is not expected to have a material impact on SMM’s earnings in FY12.

Low Pei Han of OCBC Research however notes that the rig is Jurong Shipyard’s first specialized platform with well intervention and subsea capabilities and represents advance in this growing new market segment.

“SMM has secured new orders (excluding ship repair) of about S$1.7b YTD vs. our full year order win estimate of S$8.7b (including Petrobras orders),” he added.

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