Sembcorp Marine's order book hits a record $14.4b

New projects are worth $3.2b.

According to DBS, order book stands at record S$14.4bn. YTD, SMM has secured new projects worth S$3.2bn, or 64% of new order wins assumption of S$5bn, and is on track to meet expectations.

DBS said that construction of the first drillship is ahead of schedule with 35% completion, and is planned to be towed to Brazil in Feb 2014.

"The second drillship is expected to commence initial recognition in 4Q13/1Q14. The construction of SMM’s yard in Brazil is also on schedule. SMM has embarked
on a series of training programmes to ensure sufficient supply of trained workforce for its Brazil yard," DBS said.

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