Sembcorp Marine's orderbook hits $3.8b | Singapore Business Review
1 view

Sembcorp Marine's orderbook hits $3.8b

Thanks to its recent US$145m deal.

Sembcorp Marine announced that it has secured hull carry over works related to the FPSO P-68 Tupi project at its Brazilian yard worth USD145m. According to RHB, it estimates its current orderbook to stand at around S$3.8b.

“As the amount of the contract falls within our expectations of orderbook replenishment, we make no changes to our earnings at this juncture,” RHB said.

Here’s more from RHB:

Carry over works for the Floating Production Storage and Offloading (FPSO) P-68. Sembcorp Marine announced that its wholly owned Brazilian subsidiary, Estaleiro Jurong Aracruz, has secured hull carry over works worth USD145m from Tupi BV for the FPSO P-68 Tupi project.

Recall that in July 2012, Tupi BV awarded Sembcorp Marine the contract for the modules construction and integration of FPSO P-68 along with FPSO P-71 worth US$674m.

We estimate Sembcorp Marine’s current orderbook to stand at S$3.8b, with projects ranging across drilling and non-drilling solutions.

YTD, the company has secured around S$265m worth of orderbook replenishment coming from the offshore platforms and floating solution segments. We estimate the company to be able to add another S$250m to its orderbook in FY17.

Get Singapore Business Review in your inbox
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

All of its key businesses were profitable in the first six months of the year.
Singtel, Keppel Corp, and OCBC Bank led the Straits Times Index on 29 July.
There seems to be a trend amongst workers looking to switch employers.
Total property income decreased by 4% but was offset by the decline in expenses. 
This is under the Special Situation Fund for Startups investment scheme. 
Called Project Nexus, the blueprint outlines how countries can integrate their retail payment systems onto a single cross-border network.
It plans to expand in the coming months, on the back of China’s economic recovery.
Funds will be used to modernise its portfolio.
Local financial firms are expected to remain resilient even should the economy slip into a recession again.
The Mapletree group of companies led the index on 28 July.