Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  SINGAPORE EXCHANGE  >  Sembcorp Marine Ltd    SCMN   SG1H97877952

News SummaryMost relevantAll newsSector newsTweets

Sembcorp Marine : Sells Nine Drilling Rigs for Over $1.3 Billion

share with twitter share with LinkedIn share with facebook
share via e-mail
10/06/2017 | 06:42pm CEST
By Gaurav Raghuvanshi 

SINGAPORE -- Sembcorp Marine Ltd. Friday said it has signed a deal worth over $1.3 billion with Borr Drilling Ltd. to sell nine jack-up oil drilling rigs.

The nine vessels will be delivered to Borr Drilling over the next 14 months. Borr Drilling will make an upfront payment of $500 million and their final price will include an additional market-based fee, the Sembcorp Marine said.

The rigs include six vessels for which contracts with original customers were terminated as they didn't take delivery due to weak demand from the oil exploration and production industry. Three of the rigs are currently under construction.

The sale will help ease Sembcorp Marine's liquidity position, the company said. The deal may also be a signal that demand may be returning for oil drilling rigs amid relatively higher average crude oil prices this year and need to replace old vessels.

Sembcorp Marine had announced on Wednesday that it was terminating a contract for three drilling rigs with Integradora de Servicios Petroleros Oro Negro, SAPI de CV after Oro Negro didn't take delivery of the vessels that had already been built.

Write to Gaurav Raghuvanshi at [email protected]

share with twitter share with LinkedIn share with facebook
share via e-mail
10/12 PPL transferring nine jackups to Borr Drilling
10/09 SEMBCORP MARINE : Fulfilment of conditions precedent in the agreement for sale o..
10/06DJSEMBCORP MARINE : Sells Nine Drilling Rigs for Over $1.3 Billion
10/06 SEMBCORP MARINE : Signs Agreements to Sell Nine Jackup Drilling Rigs to Borr Dri..
10/04 SEMBCORP MARINE : PPL Shipyard Pte Ltd terminates contracts with Oro Negro
09/20 SEMBCORP MARINE : and SeaOne to jointly build up to two large CGLs
09/18 SEMBCORP MARINE : signs letter of intent with SeaOne for the construction of lar..
09/11 SEMBCORP MARINE : Estaleiro Jurong Aracruz secures hull carry over works worth U..
08/31 SEMBCORP MARINE : Termination of Two Deferment Agreements by PPL Shipyard Pte Lt..
08/11 SEMBCORP MARINE LTD : ex-dividend day for interim dividend
More news
News from SeekingAlpha
2016 North Atlantic Drilling, Sembcorp extend semi-sub standstill agreement
2016 SEA : Riding The Waves
2016 Keppel takes $160M writedown in wake of Petrobras scandal
2016 THE ISHARES MSCI SINGAPORE ETF : Singapore Revisited
2015 Shipbuilder Sharing North Atlantic Drilling's Pain
Financials ( SGD)
Sales 2017 2 842 M
EBIT 2017 171 M
Net income 2017 124 M
Debt 2017 2 651 M
Yield 2017 1,31%
P/E ratio 2017 42,96
P/E ratio 2018 40,60
EV / Sales 2017 2,29x
EV / Sales 2018 2,16x
Capitalization 3 866 M
Duration : Period :
Sembcorp Marine Ltd Technical Analysis Chart | SCMN | SG1H97877952 | 4-Traders
Technical analysis trends SEMBCORP MARINE LTD
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 19
Average target price 1,76  SGD
Spread / Average Target -4,7%
EPS Revisions
Weng Sun Wong President, CEO & Executive Director
Mohammed Hassan Marican Chairman
Poh Kwee Ong Chief Operating Officer
Cheng Tat Tan Chief Financial Officer
Chee Hing Chia Head-Information Technology
Sector and Competitors