MMHE is seen delivering three major projects this year, however there are fewer ongoing projects compared to the previous year. The group noted that it is making good progress on the massive SK316 project which it is working on with joint venture partner Technip.
Local reports quoted analysts as saying they see contributions from this project starting to flow through by the fourth quarter while the Malikai tension leg platform project is expected to start recognising earnings by the end of the year also.
Average yard utilisation will drop to 50% from 60% in the second half however, with the completion of the Kebabangan topside structure by June, the group added.
Copyright © 2024. All rights reserved. Seatrade, a trading name of Informa Markets (UK) Limited. Add Seatrade Maritime News to your Google News feed.
