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SembMarine plunges into the red for Q3

Rigbuilder incurs S$21.8m net loss for the quarter, compared to S$32.1m profit a year ago; says 8,000 jobs have been axed "throughout 2015 till to date"

Published Tue, Oct 25, 2016 · 09:50 PM

sembcorp marine

Singapore

RIGBUILDER Sembcorp Marine (SembMarine) has frozen salaries and slashed thousands more jobs over the past three months, it revealed as it plunged into the red for its third quarter on the back of rig delivery deferment requests from customers amid an industry-wide slowdown.

It also said it was "evaluating various courses of action" related to a rig it was building for Perisai Pe…