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Otto Marine returned to the black in the second quarter as against a loss in the first quarter, but recorded a year-on-year drop in quarterly profit.

Malaysia Marine and Heavy Engineering Holdings (MMHE) earnings fell 16.4% to MYR39.7m ($12.4m) in the second quarter from MYR47.6m a year ago due to lower profit from the offshore and marine segments as operating profit at the marine division fell due to lower margins from repair jobs.

Singapore’s Sembcorp Marine posted a slight improvement in its second quarter results as revenue rose on contributions from rig and platform building jobs.

In the wake of the Glenn Marine debacle, big corporate raiders are picking up the spoils with major yard players Boustead Holdings acquiring 69.88 acres of land in Pulau Indah for MYR310m ($97.7m) as it eyes expansion in the oil and gas (O&G) sector, local reports said.

Sembcorp Marine’s Sembawang Shipyard has clinched a SGD600m ($475m) contract from France’s Saipem for the conversion of two FPSOs for the Kaombo Project in offshore Angola.

Lloyd's Register (LR) is to class three LNG-fuelled ferries that BC Ferries has contracted Poland’s Remontowa Shipbuilding to construct.

Offshore vessels designer and builder Vard Holdings has clinched a deal to design and construct one PSV for ER Offshore.

Keppel Shipyard and Keppel Singmarine have jointly secured contracts worth a total of SGD368m ($295m).

Paenal Shipyard in Angola has received its second FPSO and will integrate two topside modules onto the vessel.

KS Energy has signed a contract to build one jack-up drilling rig at Shanghai Zhenhua Heavy Industry Co (ZPMC).

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