Sembcorp Marine to operate 2 in 4 new dry docks by 2Q13

The remaining two docks will be operational by early 2H13, says CIMB.

Here's more from CIMB:

Ship repair volume for containers and bulkers are deteriorating, reflecting the industry currently. However, management is still anticipating strong spending for drillship/semi/FPSO upgrading.

Two out of the four dry docks of the new integrated yard is on track to begin operations from 2Q13. The remaining two docks will be operational by early 2H13.

Yard availability should allow Sembmarine to land good-pricing projects. The earliest normal delivery for a jack-up is in 1Q14 while fast track is possible in 4Q13.

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