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Sembmarine

Sembcorp Industries: Sembcorp Marine’s Jurong Shipyard Secures US$450 Million Contract To Build A Harsh-Environment Jack-Up Rig From Seadrill

Mar 23, 2011 10:23 CET

Sembcorp Marine’s subsidiary Jurong Shipyard has secured an order worth a total of US$450 million to build a harsh-environment jack-up rig from Seadrill.

Scheduled for delivery in third quarter 2013, this new turnkey jack-up rig will have similar design and specification as the West Elara, a Gusto MSC CJ70 150A harsh-environment jack-up rig that Jurong Shipyard is currently building for Seadrill.

On completion, this advanced harsh-environment, high-specification drilling unit will be one of the largest jack-ups in the world, specifically built to meet the stringent Norwegian standards for rigs operating in the North Sea region. The rig will have the ability to operate in water depths of up to 150 metres with a high variable deck load and a higher operating efficiency compared to previous jack-up generations. With its ultra-large size, this rig unit will be able to tap into additional opportunities within areas like well testing and early production.

Mr Don Lee, Jurong Shipyard’s Senior General Manager of Offshore Division said “We are pleased that Seadrill has again chosen to partner Jurong Shipyard in their fleet expansion to be one of the largest operators of high-quality premium harsh-environment drilling rigs. This Gusto MSC CJ70 jack-up rig will be the second such unit that Jurong Shipyard is building for Seadrill and for operations in the Norwegian Continental Shelf, a quality stringent area requiring high standards of compliance.”

“Jurong Shipyard has to-date successfully delivered to Seadrill three units of turnkey Ex-D Friede & Goldman deepwater semi-submersible rigs – the West Sirius, West Taurus and West Orion. Six other Seadrill rigs are in various stages of construction, including the fourth Ex-D Friede & Goldman deepwater semi-submersible (West Capricorn), two Moss Maritime CS50 ultra-deepwater semi-submersibles (West Pegasus & West Leo), one harsh-environment Gusto MSC CJ70 jack-up rig (West Elara) and two premium Friede & Goldman JU2000E jack-ups (West Castor & West Tucana).”

“We are heartened by Seadrill’s trust and confidence in our rig building capabilities and will continue to build on this strong partnership and win-win synergy going forward.”

Mr Alf C Thorkildsen, Chief Executive Officer in Seadrill Management AS, said “We are excited to have entered into this arrangement again with our proven partner, Jurong Shipyard. We look forward in confidence to the timely delivery of this new generation of advanced rigs which will be one of the most capable and competitive in the world. This newbuild will be an important addition to our fleet of harsh-environment drilling units which will increase earnings and employment visibility of our operations.”

The contract is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of Sembcorp Marine for the year ending December 31, 2011.

About Seadrill
Seadrill is a leading offshore deepwater drilling company. The Company operates a versatile fleet of 58 rigs (of which 12 are under construction) that comprises drillships, jack-up rigs, semi-submersible rigs and tender rigs for operations in shallow to ultra-deepwater areas in harsh and benign environments. It is listed on the New York Stock Exchange and the Oslo Stock Exchange.

About Jurong Shipyard
Jurong Shipyard, a fully-owned subsidiary of Sembcorp Marine, is a leading shipyard offering integrated services and customized solutions in ship repair, shipbuilding, ship conversion, rig building and offshore engineering to a world-wide clientele. Apart from its proven track record in the building and servicing of jack-up and semi-submersible rigs, Jurong Shipyard is also a global leader in the EPC conversion of tankers to floating production storage and offloading units (FPSOs), floating storage tankers (FSOs) and floating production units (FPUs).

For media and analysts enquiries, please contact:

Ms Judy Han
Senior Vice President
Investor Relations & Communications
Tel : (65) 62627203
Fax : (65) 62610738
Email : judy@sembcorpmarine.com.sg
Website : www.sembcorpmarine.com.sg

thanks sifu krisluke!

will wait for the pullback then

krisluke ( Date: 25-Mar-2011 21:59) Posted:

sembmar TA. look like going to reverse the parabolicSR. do watch 30ema violation for any possible pullback. Support can be seems at $5.56, do watch.

Sembcorp TA. just break the 40ema. as long as $4.99 is the support, more upside could be seem.

keppel corp TA. Price well above 35ema. today, a gravetomb doji spotted. Do watch for any pullback. Do watch $11.76...

ST eng TA. Spinning Top candle... can go either way... Be caution ! !!

ya. now $5.xx/ shr liao. i don't got much meat left, if you choose to buy it now... the weightage of lots

rotijai ( Date: 25-Mar-2011 21:24) Posted:

hm.. possible for it to go to $6? nowadays i am too scared to hold a counter for too long..

lol

krisluke ( Date: 25-Mar-2011 18:49) Posted:

some bloggers suggest tgt $6.00. If vested, can consider to lock in for profit on that, dividend, still way stretch. it on may 11 Smiley

Too bad, this corp don't have property like keppelcorp. Just speculate on acquisition news lah..

hm.. possible for it to go to $6? nowadays i am too scared to hold a counter for too long..

lol

krisluke ( Date: 25-Mar-2011 18:49) Posted:

some bloggers suggest tgt $6.00. If vested, can consider to lock in for profit on that, dividend, still way stretch. it on may 11 Smiley

Too bad, this corp don't have property like keppelcorp. Just speculate on acquisition news lah...

rotijai ( Date: 24-Mar-2011 22:54) Posted:

though may be this ship might still move up further to 5.80-5.90..

i shall wait for correction to consider entering..

do guide us here, master krisluke :

some bloggers suggest tgt $6.00. If vested, can consider to lock in for profit on that, dividend, still way stretch. it on may 11 Smiley

Too bad, this corp don't have property like keppelcorp. Just speculate on acquisition news lah...

rotijai ( Date: 24-Mar-2011 22:54) Posted:

though may be this ship might still move up further to 5.80-5.90..

i shall wait for correction to consider entering..

do guide us here, master krisluke :)

krisluke ( Date: 24-Mar-2011 22:51) Posted:

The basic of analysing the FA, pulse of the company...

1) price book

2) free cash flow

3) yield

4) outlook

5) management (corporate and transparent index)

As i said before, 2 and 5 is a important thingy to watch.

2) CFO, how well he deserve his salary and compensation base on investment experience...

5) CEO, how aggresive his move to win business opportunities from his rival, eg keppel corp....

It must be JOKE that director board do conduct regular " cabinet style" meeting to channel business contract from one corp to another, BUT on the bright side, It would be easier for me to take $$$ off the director table... Smiley

becos I understand this sea channel in deep... Smiley

4) outlook, hmmm... I had subscribe to upstreams online news liao, 3 mths free trials thingy... Smiley

1) pricebook? got to check with my " shifu" or revise TA ...

Wow wealth of experience ! Can ask how old are u ?

krisluke ( Date: 22-Mar-2011 19:21) Posted:

i got no tips, just base of my past experience...

I remember this gap by heart becos, 1) i was suppose to sell at $6.2X on that day but HAPPEN to kanna MOB recall, next day plunge SG $1.00 due to FOREX case. Smiley

2) after that day, is all about 1930s global worst financial meltdown Smiley

3) so i watch bollingerband for some hints, The rest of ta tools maybe can ask sgtrader for some guidance Smiley

risktaker ( Date: 22-Mar-2011 19:02) Posted:

TA ---- LOL u dont make me laugh TA can see this run i chop

though may be this ship might still move up further to 5.80-5.90..

i shall wait for correction to consider entering..

do guide us here, master krisluke :)

krisluke ( Date: 24-Mar-2011 22:51) Posted:

The basic of analysing the FA, pulse of the company...

1) price book

2) free cash flow

3) yield

4) outlook

5) management (corporate and transparent index)

As i said before, 2 and 5 is a important thingy to watch.

2) CFO, how well he deserve his salary and compensation base on investment experience...

5) CEO, how aggresive his move to win business opportunities from his rival, eg keppel corp....

It must be JOKE that director board do conduct regular " cabinet style" meeting to channel business contract from one corp to another, BUT on the bright side, It would be easier for me to take $$$ off the director table... Smiley

becos I understand this sea channel in deep... Smiley

4) outlook, hmmm... I had subscribe to upstreams online news liao, 3 mths free trials thingy... Smiley

1) pricebook? got to check with my " shifu" or revise TA ...

The basic of analysing the FA, pulse of the company...

1) price book

2) free cash flow

3) yield

4) outlook

5) management (corporate and transparent index)

As i said before, 2 and 5 is a important thingy to watch.

2) CFO, how well he deserve his salary and compensation base on investment experience...

5) CEO, how aggresive his move to win business opportunities from his rival, eg keppel corp....

It must be JOKE that director board do conduct regular " cabinet style" meeting to channel business contract from one corp to another, BUT on the bright side, It would be easier for me to take $$$ off the director table... Smiley

becos I understand this sea channel in deep... Smiley

4) outlook, hmmm... I had subscribe to upstreams online news liao, 3 mths free trials thingy... Smiley

1) pricebook? got to check with my " shifu" or revise TA ...

I hope to see some AWARDS thingy for this corp. EX HR DIRECTOR became SEMBCORP MARINE CEO ? YOU telling me HR DOn't know about AWARDS THINGY Smiley

LOL (laugh out loud)

FACT SHEET ON SEMBCORP MARINE Smiley

About the Company

Sembcorp Marine Ltd. is an investment holding company engaged in the provision of management services. The Company operates in two segments: ship and rig repair, building and conversion, and ship chartering.

The Company’s wholly owned subsidiaries include Bulk Trade Pte Ltd, which is engaged in bulk trading Dolphin Shipping Company Private Limited, which is engaged in ship owning and chartering JPL Corporation Pte Ltd, which is engaged in investment holding Jurong Integrated Services Pte Ltd, which is engaged in steel fabrication work, and Jurong SML Pte Ltd, which is engaged in ship building, ship repair and related services.

In March 2009, the Company acquired the remaining 30% interest in JPL Corporation Pte Ltd

Evolution of the Company
1963

* Incorporation of Jurong Shipyard as a joint venture between the Economic Development Board of Singapore and Ishikawajima-Harima Heavy Industries Co Ltd of Japan (IHI)

1968

* Incorporation of Jurong Shipbuilders
* Incorporation of Sembawang Shipyard

1976

* Merger of Jurong Shipbuilders with Jurong Shipyard

1987

* Public Listing of Jurong Shipyard Limited

1997

* Acquisition of Sembawang Shipyard Pte Ltd, along with its subsidiary company P.T. Karimun Sembawang Shipyard (Indonesia) (65%) and associate company Bohai Sembawang Shipyard (China) (50%)

1999

* Acquisition of SML Shipyard

2000

* Name change of listed entity from Jurong Shipyard Ltd to Sembcorp Marine Ltd
* Incorporation of Jurong Shipyard Pte Ltd, which operates as a separate brand name alongside other shipyards in Sembcorp Marine’s network.

2001

* Acquisition of 50% of PPL Shipyard
* Acquisition of 35% of Maua Jurong (Brazil)

2002

* Acquisition of 20% of Cosco (Dalian) Shipyard (China)
* Acquisition of remaining 35% stake in PT Karimun Sembawang Shipyard from PT Primabahtera Indoshipyard (Total: 100%)

2003

* Acquisition of additional 35% of PPL Shipyard (Total: 85%)
* Disposal of entire shareholding in Bohai Sembawang Shipyard (China)

2004

* Acquisition of 30% of Cosco Shipyard Group (China), the enlarged group comprising five shipyards in the key coastal cities of Dalian, Nantong, Shanghai, Zhoushan and Guangzhou

2005

* Acquisition of Sabine Industries Inc., Texas, USA

2006

* Acquisition of SMOE Pte Ltd and PT SMOE Indonesia
* Acquisition of Sembawang Bethlehem Pte Ltd (SemBeth), including SemBeth’s properties

2007

* Acquisition of 60% in SembMarine (Middle East) Pte Ltd in joint venture with Nasser Mohammed Al-Mukairish and Partners Company
* Strategic investment of 3.31% in Pipavav Shipyard Limited, India
* Acquisition of entire shareholding of Sabine Industries (renamed SembCorp-Sabine Industries, Inc.), comprising Sabine Shipyard (renamed SembCorp-Sabine Shipyard) and Sabine Offshore Services Inc. from PPL Shipyard (Total: 100%)

2008

* Strategic Alliance Agreement with Rio de Janeiro-based Mac Laren Shipyard to operate a shipyard in Brazil

2009

* Development of Integrated New Yard at Tuas View Extension
* Joint Venture with India’s Kakinada Seaports Limited to form Sembmarine Kakinada Ltd in the East Coast of India

2010

* Development of Estaleiro Jurong Aracruz (EJA) in the Municipal of Aracruz, in the State of Espirito Santo, Brazil

Portfolio

Awards

2009

* SIAS 10th Investors’ Choice Awards – Most Transparent Company Runner-up Award 2009 (Non-Electronics Manufacturing)
* Patron of the Arts Awards 2009 – Arts Supporter Award 2009
* IR Magazine SEA Awards – Winner for Best Corporate Governance Award

2008

* SIAS 9th Investors’ Choice Awards – Most Transparent Company Runner-up Award (Non-Electronics Manufacturing)
* Patron of the Arts Awards 2008 – Friend of the Arts 2008

2007

* SIAS 8th Investors’ Choice Awards – Winner for Most Transparent Company (Non-Electronics Manufacturing)
* Singapore Corporate Awards – Best Annual Report 2005 Silver Award (Mainboard Listed Companies with Market Capitalisation > $500m)

2006

* SIAS 7th Investors’ Choice Awards – Most Transparent Company Runner-up Award (Non-Electronics Manufacturing)
* Singapore Corporate Awards – Best Annual Report 2004 Bronze Award (Mainboard Listed Companies with Market Capitalisation > $500m)

2005

* SIAS 6th Investors’ Choice Awards – Most Transparent Company Award (Non-Electronics Manufacturing) – Runner-up Award 2004
* Annual Report Awards – Best Annual Report 2002 Merit Award (Mainboard Listed Companies)

2003

* Annual Report Awards – Best Annual Report 2001 Commendation Award (Mainboard Listed Companies)

i got no tips, just base of my past experience...

I remember this gap by heart becos, 1) i was suppose to sell at $6.2X on that day but HAPPEN to kanna MOB recall, next day plunge SG $1.00 due to FOREX case. Smiley

2) after that day, is all about 1930s global worst financial meltdown Smiley

3) so i watch bollingerband for some hints, The rest of ta tools maybe can ask sgtrader for some guidance Smiley

risktaker ( Date: 22-Mar-2011 19:02) Posted:

TA ---- LOL u dont make me laugh TA can see this run i chop.

rotijai ( Date: 22-Mar-2011 19:01) Posted:

wah.. nowadays i am super weak hearted and got most of my $ stuck in STX.... so i didnt invest much this round.

honestly i didnt expect semb marine to shoot up so fast based on my noob ta knowledge..

but again, thanks for the tips.. !

if got other tips, pls share next time :

TA ---- LOL u dont make me laugh TA can see this run i chop.

rotijai ( Date: 22-Mar-2011 19:01) Posted:

wah.. nowadays i am super weak hearted and got most of my $ stuck in STX.... so i didnt invest much this round.

honestly i didnt expect semb marine to shoot up so fast based on my noob ta knowledge..

but again, thanks for the tips.. !

if got other tips, pls share next time :)

krisluke ( Date: 22-Mar-2011 18:20) Posted:

there is a multiple year GAP at SG $ 6.2x. let's hope the management thingy can fill up the gap. I mean it for their own good. my concern is afterall wallet watch Smiley

, i mean inflation and financial crisis thingy.

Let's celebrate today victory with a toast of VSOP, i mean wine Smiley

i thinky rotijai must make some $$$ liao.

wah.. nowadays i am super weak hearted and got most of my $ stuck in STX.... so i didnt invest much this round.

honestly i didnt expect semb marine to shoot up so fast based on my noob ta knowledge..

but again, thanks for the tips.. !

if got other tips, pls share next time :)

krisluke ( Date: 22-Mar-2011 18:20) Posted:

there is a multiple year GAP at SG $ 6.2x. let's hope the management thingy can fill up the gap. I mean it for their own good. my concern is afterall wallet watch Smiley

, i mean inflation and financial crisis thingy.

Let's celebrate today victory with a toast of VSOP, i mean wine Smiley

i thinky rotijai must make some $$$ liao.

lol u really have no idea what r u talking about.... do u ... u really want to short sembmar?

epliew ( Date: 22-Mar-2011 18:08) Posted:

oil price drop.... sembmar price will goes down.... u shorting it after the peak out.... i wait for friday lah....

krisluke ( Date: 21-Mar-2011 19:28) Posted:

epliew, some good news to share, it from seadrill. I means no news leak from this contracts during trading hours. look like oil price going to fall after usa vs lu bu (rtk hero) thingy. It good for general economy.

there is a multiple year GAP at SG $ 6.2x. let's hope the management thingy can fill up the gap. I mean it for their own good. my concern is afterall wallet watch Smiley

, i mean inflation and financial crisis thingy.

Let's celebrate today victory with a toast of VSOP, i mean wine Smiley

i thinky rotijai must make some $$$ liao.

oil price drop.... sembmar price will goes down.... u shorting it after the peak out.... i wait for friday lah....

krisluke ( Date: 21-Mar-2011 19:28) Posted:

epliew, some good news to share, it from seadrill. I means no news leak from this contracts during trading hours. look like oil price going to fall after usa vs lu bu (rtk hero) thingy. It good for general economy.

epliew ( Date: 19-Mar-2011 14:29) Posted:

Should have bought back on friday instead ot thu.... Tots oil price will goes up with middle east.... But since it bearish market watch out.

another news coming is it?

sureesh40 ( Date: 22-Mar-2011 16:45) Posted:

what ever happened to the petrobras projects.

Whoa !!! SembMarine. Its your day........

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Sembmarine

Sembcorp Industries: Sembcorp Marine’s Jurong Shipyard Secures US$450 Million Contract To Build A Harsh-Environment Jack-Up Rig From Seadrill