Sembmarine books loss

摘要

SINGAPORE offshore contractor Sembcorp Marine (Sembmarine) has plunged to a loss in the first half of the year in the wake of the Covid-19-related shutdown of production activities. Sembmarine reported a net loss for the six months to the end of June of S$192 million (US$138 million) compared to a loss of S$7 million year-on-year. The yard group also saw revenues fall in the period to S$906 million from S$1.5 billion in the first half of last year. The 41% revenue decline was largely due to lower revenue from rig and floater projects, it said. The "severe deterioration" followed the shutdown of production activities at all Semb-marine's Singapore yards in April as a result of the Covid-19 pandemic, the company said.