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Sembcorp Marine weighed down by offshore projects in first quarter

Shipyard Sembcorp Marine declined in a first quarter in which earnings from offshore projects were lower. The Singapore-based yard is seeing bright spots in the shipping and oil markets, however.

Photo: /ritzau/AP/Wong Maye/

Singapore-based shipyard Sembcorp Marine saw its top line decreasing by almost a third in the start to 2019, when lower earnings from offshore projects played a role.

Revenue thus decreased by 31 percent to USD 811 for the period, according to a financial statement. The bottom line showed a deficit before taxes of USD 1 million against a profit of USD 6 million in the first quarter of last year.

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