New orders drying up for Sembcorp Marine

Singapore

ALL SEEMS quiet on the order book front for rigbuilder Sembcorp Marine, which posted a sombre set of first-quarter earnings on Monday amidst an ongoing industry slump.

Though the mainboard-listed company has put on a brave front, saying in a statement that it "expects to build up its order book despite the current challenging market environment", its new orders this year have remained weak.