Can Sembcorp Marine reinvent itself as a green champion?

SEMBCORP Marine's business updates for Q1 FY2021, released on Monday, offered a grim outlook for the offshore and marine company.

After three consecutive years of losses, the company said it expects to be loss-making in 2021 too.

Analysts are estimating a slow recovery. DBS, CGS-CIMB and UOB Kay Hian project that losses for the group will continue into 2022.

At the same time, Sembmarine's shares have picked up significantly since the company was separated from Sembcorp Industries (SCI) last year.

In particular, some excitement has emerged around the company's potential in the green-energy space. The question is whether the company can keep the momentum up on the green front.

The counter had reacted positively to news in late March that Sembmarine, in partnership with GE Renewable Energy's Grid Solutions, has clinched a £600 million (S$1.12 billion) contract to supply a high-voltage direct-current electrical system for the UK-based Sofi…