Coronavirus, oil price slowing offshore orders for Singapore yard

May 13, 2020
Sembcorp Marine retains a workload of new fixed and floating production platforms, although COVID-19 has led to delays in execution and completion of some projects.

Offshore staff

SINGAPORESembcorp Marine retains a workload of new fixed and floating production platforms, although COVID-19 has led to delays in execution and completion of some projects.

The oil price drop and the industry-wide cuts in capex have also impacted the company’s negotiations and finalization of new orders, such as Siccar Point’s FPSO for the Cambo oil project west of Shetland, with that project now postponed to 2021.

At the same time, the virus has affected global shipping operations and Sembcorp’s Repairs & Upgrades business.

Projects in progress include the newbuild Johan Castberg and Karish FPSOs; Shell’s Vito and Whale floating production units; Tyra field redevelopment platforms; Transocean drillships; Ørsted Hornsea 2 offshore wind farm substations; and Jan De Nul Formosa 2 offshore wind farm jackets fabrication.

Repair and upgrade projects include FSRU Karmol LNGT Powership Africa; FSRU Karmol LNGT Powership Asia; and FSU LNG Flora.

05/13/2020