Singapore offshore and marine giant Sembcorp Marine will raise S$1.5 billion (US$1.1 billion) in funds from a rights issue to support the companyโs operations. The rig builder has been struggling with rising costs and delays to projects being built at its yards.
Singaporean rig builders Keppel Corporation and Sembcorp Marine have confirmed they are in talks over a merger of their offshore and marine (O&M) businesses.
Shell is carrying out a feasibility study with partners to trial the use of hydrogen fuel cells for ships in Singapore, the first such move for the supermajor and the Southeast Asian city state.
Maersk Oilโs landmark North Sea project is โbang on scheduleโ with contracts for hook-up and commissioning expected to be awarded โin the next couple of monthsโ.
Sembcorp Marine Ltd., which posted its first loss in more than a decade in the fourth quarter, saw its shares jump by the most in nearly a month amid talk that the company could be taken private.