Sembcorp Marine pops the champagne on $3.2b new order wins

2013 new order is pegged at $6.5b.

According to Nomura, Sembcorp Marine’s (SMM) PPL Shipyard has secured a USD 417mn order for two JU newbuilds from repeat customer Integradora de Servicios Petroleros Oro Negro, S.A.P.I. de C.V. (“Oro Negro”).

Oro Negro is a repeat customer and already has four rigs under construction at SMM’s PPL shipyard.

"Sustained new order flow from Mexico, in our view, is reflective of the need for modernisation and expansion of the drilling fleet in the region. With this new order, SMM’s new order wins for the year now stand at ~S$3.2bn vs our 2013F new order estimate of S$ 6.5bn," Nomura said.

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