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Sembmarine warns of Q4 loss

Sembmarine warns of Q4 loss
Sembcorp Marine (Sembmarine) has warned expects to report a loss in the fourth quarter hit by the offshore downturn and customers deferring deliveries.

In a statement to the Singapore Exchange Sembmarine warned that expected to report a net loss in the fourth quarter and a “significant decline” in full year profit.

“With reference to disclosures given during the first three quarters in 2015 regarding the challenging operating environment and customers deferring or seeking to defer their rig orders, the results for the 4Q2015 and FY2015 will be materially negatively impacted,” the company said.