Sembcorp Marine Limited an

Singaporean Singaporeans, or the Singaporean people, refers to citizens or people who identify with the sovereign island city-state of Singapore. Singapore is a multi-ethnic, multi-cultural and multi-lingual country. Singaporeans of Chinese, Malay, Ind ...

company. It is listed on the

Singapore Exchange The Singapore Exchange Limited (SGX) is a Singaporean investment holding company that provides different services related to securities and derivatives trading and others. SGX is also a member of the World Federation of Exchanges and the Asian ...

(SGX). It was a subsidiary of

Sembcorp Sembcorp Industries (Sembcorp) is an energy and urban development company. Sembcorp's marine division provided a variety of services, including the engineering and construction of offshore platforms for oil extraction, until it was demerg ...

until 2020, when the companies demerged following Sembcorp Marine's poor financial performance. Sembcorp Marine's products and services include rigs & floaters, repairs & upgrades,

offshore platform An oil platform (or oil rig, offshore platform, oil production platform, and similar terms) is a large structure with facilities to extract and process petroleum and natural gas that lie in rock formations beneath the seabed. Many oil platfor ...

s and specialised

shipbuilding Shipbuilding is the construction of ships and other floating vessels. It normally takes place in a specialized facility known as a shipyard. Shipbuilders, also called shipwrights, follow a specialized occupation that traces its roots to befo ...

. It conducts its businesses globally through shipyards in Singapore, Indonesia, the United Kingdom and Brazil. In October 2017, Sembcorp Marine won a $490m contract for the construction of a new floating production storage and offloading hull and living quarters with Statoil Petroleum AS. In November of the same year, it announced a collaboration with DNV GL, A*Star's Singapore Institute of Manufacturing Technology and the National Additive Manufacturing Innovation Cluster to develop

drone Drone most commonly refers to: * Drone (bee), a male bee, from an unfertilized egg * Unmanned aerial vehicle * Unmanned surface vehicle, watercraft * Unmanned underwater vehicle or underwater drone Drone, drones or The Drones may also refer to: ...

s, additive manufacturing and digital twin technologies. On 5 September 2018, Sembcorp Marine acquired the intellectual property of Sevan Marine, specialized marine engineering and design house. Its acquisition consisted of interests and titles to all of Sevan Marine ASA’S intellectual property, and 95% of shares of HiLoad LNG AS, for a cash consideration of $39 million. In April 2019, Semborp Marine was given the Offshore & Marine Engineering Award in the Singapore International Maritime Centre Awards 2019, and in May of the same year, Sembcorp Marine revealed The Sleipnir¸ the world's largest crane vessel (which cost around US$1.5 billion). In March 2020, it was announced that

, the then-parent company of Sembcorp Marine, was replacing their CEO, an action which is often taken due to adverse events, and can have negative effects on a company's performance and valuation. Sembcorp failed to declare an interim dividend for 1H 2020 (as is usual practice), instead choosing to defer any decision regarding payment of dividends for the fiscal year 2020 until the end of the year. In June of the same year, trading was halted for Sembcorp as well as Sembcorp Marine (the latter of which had its shares decline by 36% in 2020). Representatives from both companies declined to comment. The companies were subsequently demerged. Between June 11 and July 24, 2020, Sembcorp Industries' share price declined by 11%. In September 2020,

Shell Shell may refer to: Architecture and design * Shell (structure), a thin structure ** Concrete shell, a thin shell of concrete, usually with no interior columns or exterior buttresses ** Thin-shell structure Science Biology * Seashell, a hard o ...

postponed a major contract to Sembcorp Marine for an oil rig in the US Gulf of Mexico to 2021, citing economic uncertainty caused by the

COVID-19 pandemic The COVID-19 pandemic, also known as the coronavirus pandemic, is an ongoing global pandemic of coronavirus disease 2019 (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The novel virus was first identi ...

. On 8 June 2020, it was reported that Temasek stepped in to support Sembcorp Marine's $1.5 billion rights issue Sembcorp Marine has also been involved in corruption probes in Brazil. The charges were in connection with certain drilling rig construction contracts entered into by Sembcorp Marine's subsidiaries in Brazil back in 2012.

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Sembcorp Marine
{{Authority control 1963 establishments in Singapore Companies listed on the Singapore Exchange Multinational companies headquartered in Singapore Shipbuilding companies of Singapore Singaporean brands Singaporean companies established in 1963