LNG

Oct 26 (LNGJ) - Sembcorp Marine, the Singapore maker of offshore platforms and with a ship repair yard catering for LNG carriers, posted ninth-month revenues of S$3.97 billion (US$2.82Bln) and a third-quarter loss of S$29.8 million compared with a profit of S$100.7M in the third quarter of 2017. The company is expected to increase its participation in the LNG sector after completing the acquisition of LNG technologies from buying Sevan Marine of Norway. On a quarterly basis, Sembcorp turnover for the third quarter was S$1.17Bln versus S$729 million in the same three months of 2017. “The higher revenue was due to higher percentage recognition of the two Transocean drillships, the “Johan Castberg FPSO”, the “Shell Vito FPU” and the “Karish FPSO” projects,” it said. “The majority of recent new offshore oil and gas orders were for production projects. This trend is expected to continue and Sembcorp is responding to an encouraging pipeline of enquiries and tenders for innovative engineering solutions,” added the company.