SINGAPORE (Sept 19): CIMB Research estimates that Sembcorp Marine could bag contracts worth between US$440 million ($592 million) and US$500 million from US gas company SeaOne Holdings.
SembMarine on Monday signed a letter of intent (LoI) with SeaOne for the design and construction of at least two large Compressed Gas Liquid (CGL) carriers.
“This news is positive for SMM,” says CIMB analyst Lim Siew Khee in a report on Monday. “We believe the contracts will materialise by end-2017F or early 2018F, which could excite the market, given the large size.”
See: SembMarine partners US gas company SeaOne in fuel supply project
See: SembMarine 2Q earnings halved to $5.6 mil