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Sembcorp Marine has provisions to offset impact of terminated rigs

PC Lee Published on Wed, Oct 04, 2017 / 1:10 PM GMT+8

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SINGAPORE (Oct 4): Shares in Sembcorp Marine are down 1.7% at $1.73 after announcing this morning it needs to find new buyers for three jack-up rigs that are already built.

Orders for the rigs worth over US$600 million ($816 million) were placed by customer Oro Negro who “technically accepted” the rigs didn't follow up by taking delivery.

SembMarine terminated the contracts on Wednesday.

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