Seatrium
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SembM Re-Born Rich
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The profit margin for this contract could be much higher than the ship repairing etc. Now the contracts already in the pocket and these are govt projects that funds are easily obtained. Dont worry.
Stocky901 ( Date: 30-Mar-2023 16:20) Posted:
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It is really not tough to read ....and decid if this is a small or LARGE project and over several YEARS> In short it has great potential for SM over time ....certainly a show piece too . Not surprise shortist wld capitalise on the situation to short BUT see who finally get caught .......this contract is in $B and in Euro ...lol
Good luck
Singapore, 30 March 2023 &ndash Sembcorp Marine Ltd (the &ldquo Company&rdquo , together with its subsidiaries, the &ldquo Group&rdquo , or &ldquo Sembcorp Marine&rdquo ), through its wholly-owned subsidiary Sembcorp Marine Offshore Platforms Pte. Ltd. (&ldquo SMOP&rdquo ), and consortium partner GE Renewable Energy&rsquo s Grid Solutions (&ldquo GE&rdquo ) have jointly secured a Framework Cooperation Agreement (&ldquo FCA&rdquo ) from TenneT TSO B.V. (&ldquo TenneT&rdquo ).
The FCA covers a period of five years with an option to extend another three years. It consists of three contracts, each valued at approximately EUR 2 billion, to supply the high voltage direct current (HVDC) electrical transmission systems for three mega offshore wind farm projects, with a combined capacity of six Gigawatt (GW), in the Netherlands as part of TenneT&rsquo s offshore grid acceleration programme.
Representing the largest offshore renewables project secured by the Group, Sembcorp Marine&rsquo s scope of work, involves the engineering, procurement, construction, transportation, installation and commissioning of three 2GW HVDC Offshore Converter Platforms &ndash the biggest and most powerful of their kind in the industry. The platforms will contribute towards TenneT&rsquo s sustainability ambition through its offshore grid development programme, which involves the installation of 40GW of offshore wind energy in the German and Dutch North Seas, to enable Europe to be the world&rsquo s first climate neutral continent. The Offshore Converter Platforms will be progressively installed to serve TenneT&rsquo s three offshore wind farm projects &ndash the IJmuiden Ver Beta, IJmuiden Ver Gamma and Nederwiek 2 grid connections. The IJmuiden Ver projects are located about 62 km off the coast of the Netherlands, while the Nederwiek project is approximately 95 km off the coast. Construction of the Offshore Converter Platforms, each comprising a 25,500-tonne topside and a 9,500-tonne jacket foundation structure, will progressively commence from 3Q 2024 at Sembcorp Marine&rsquo s Singapore and Batam Indonesia yards.
Sembcorp Marine&rsquo s wholly-owned subsidiary Sembmarine SLP, based in the UK, will be performing the offshore hook-up and commissioning. This will include the provision of logistics and warranty support from its base in the UK, as well as the establishment of a European office in the Netherlands. Company Registration Number: 196300098Z Sembcorp Marine was awarded the contract based on the strength of the Group&rsquo s offshore construction track record and expertise in the delivery of renewable wind energy projects. The Company is currently constructing a HVDC Offshore Converter Platform for the Sofia Offshore Wind Farm and a HVDC platform for the DolWin 5 Offshore Wind Farm. This latest contract award is the third HVDC offshore platform project the Company will be delivering. Offshore completion of the platforms are expected from 4Q 2029 to 2031. Tim Meyerjü rgens, COO of TenneT, said, &ldquo We are delighted to be working with GE and their consortium partners as part of our task to connect 40 GW offshore wind in the North Sea, one of the most important infrastructure projects of the century. TenneT has the technical know-how, scale, and geographical position to connect wind energy from the North Sea, while GE and its consortium partners have the HVDC expertise. Together, with the GE consortia and other HVDC partners we will accelerate the development of the offshore grid, thereby strengthening Europe&rsquo s energy security and putting Europe on track to become the world' s first climate-neutral continent by 2050.&rdquo Philippe Piron, CEO of GE Grid Solutions, said, " Together with our consortium partners, we are honoured and pleased to play a key role in this critical infrastructure project for European energy security and decarbonisation. These awards confirm that GE&rsquo s Voltage-Sourced Converter HVDC technology is now recognised as one of the most advanced in the world." Samuel Wong, Head of SMOP, said, &ldquo We are heartened to be awarded this landmark contract for the turnkey construction of the 2GW Offshore Converter Platforms for TenneT&rsquo s wind farm projects. This award sets a new benchmark as our biggest capacity and highest specification offshore platforms construction project. We are excited to work with TenneT and our consortium partner GE on this milestone project to deliver the highest standards of sustainability, safety, quality and performance required." Sembcorp Marine Chief Executive Officer Chris Ong said, &ldquo We are delighted, together with our partner GE, to be selected by TenneT for three of their eleven two-gigawatt offshore converter platforms in Europe. These are our largest and most advanced state-of-the-art offshore renewable energy projects to date. We thank GE and TenneT for their trust and confidence in our offshore construction capabilities.&rdquo &ldquo We look forward to contributing to TenneT&rsquo s vision and decarbonisation objectives and at the same time contributing to the global transition towards cleaner, greener and renewable energy. Offshore renewables is an important pillar of our business and we will continue to develop cleaner, greener and renewable solutions across our entire business value chain in the offshore, marine and energy sectors.&rdquo
More booster shots coming to heal SM !!!
Eagle88 ( Date: 30-Mar-2023 16:30) Posted:
Need more booster shots than just one to fight the resistance at 120 and above.
Stocky901 ( Date: 30-Mar-2023 16:20) Posted:
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Need more booster shots than just one to fight the resistance at 120 and above.
Stocky901 ( Date: 30-Mar-2023 16:20) Posted:
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May not shortist lah, may is Keppel SHs selling on news, the new shares still haven' t fully flushed
Waterrat ( Date: 30-Mar-2023 16:16) Posted:
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Took some profit at 0.119 👍 👍 . Will buy again if there is further selling. 😀
commando ( Date: 30-Mar-2023 15:26) Posted:
Short at 12? Anyone?
Slowturtle ( Date: 30-Mar-2023 15:24) Posted:
| Selling now more likely now after opening at 0.118/0.119. See whether can go past 0.12 nxt. |
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Powerful shortest
So fast lao hong
I think later up a few pips after most took profits. Last 2-days already rammed up after soft exhuberance and from analyst' s TP of 0.14.
Sembmarine unit&rsquo s &lsquo alleged irregularities&rsquo linked to Brazil&rsquo s Operation Car Wash
SEMBCORP Marine (Sembmarine) on Wednesday (Mar 29) clarified that preliminary administrative proceedings commenced by Brazil&rsquo s Comptroller General of the Union (CGU) against the group&rsquo s subsidiary, Estaleiro Jurong Aracruz (EJA), are related to past conduct linked to an ongoing probe into suspected money laundering and graft activities.
This is in reference to the group&rsquo s Mar 24 announcement that EJA was being investigated for &ldquo alleged irregularities&rdquo in its practices.
The CGU has not brought civil or administrative charges against Sembmarine or its subsidiaries, said the group. Sembmarine added that it will continue to cooperate and work with the Brazilian authorities on this matter.
Prior to its Mar 29 update, Sembmarine&rsquo s last announcement regarding Operation Car Wash was made through a circular to shareholders dated Jan 31.
The nationwide criminal investigation by the Federal Police of Brazil was first launched in 2014 as a money laundering investigation, eventually expanding to cover allegations of corruption, including at Petrobras.
Operation Car Wash was mentioned as one of the operational, business and political risks which Sembmarine cautioned that the enlarged group &ndash following its acquisition of Keppel Offshore & Marine &ndash may be exposed to.
Investigations into graft activities had begun with a search warrant on EJA in July 2019, and expanded to include EJA&rsquo s former president Martin Cheah. On this matter, Sembmarine said EJA had cooperated fully with the Brazilian federal police and provided material within the scope of the warrant.
Totally agree
eugesun ( Date: 30-Mar-2023 15:39) Posted:
He is not newbie but a grand master in disguise...lol...
Christrade ( Date: 30-Mar-2023 15:36) Posted:
| Bro Newbie19, u |
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He is not newbie but a grand master in disguise...lol...
Christrade ( Date: 30-Mar-2023 15:36) Posted:
| Bro Newbie19, u |
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Sell on news
Slowturtle ( Date: 30-Mar-2023 15:35) Posted:
| Genuine sellers. Shortists already covered. |
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Where are all the 8 cents shortists???? Already covered...damn....lol...30 cents..
Slowturtle ( Date: 30-Mar-2023 15:35) Posted:
| Genuine sellers. Shortists already covered. |
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Bro Newbie19, u
Genuine sellers. Shortists already covered.
Short squeeze....no shorting...lol...
commando ( Date: 30-Mar-2023 15:26) Posted:
Short at 12? Anyone?
Slowturtle ( Date: 30-Mar-2023 15:24) Posted:
| Selling now more likely now after opening at 0.118/0.119. See whether can go past 0.12 nxt. |
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Cannot short now. No time to cover. Morning short sellers jialat🤐 😪
commando ( Date: 30-Mar-2023 15:16) Posted:
Anyone short?
Slowturtle ( Date: 30-Mar-2023 15:12) Posted:
| Shortists covering up big time. |
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Short at 12? Anyone?
Slowturtle ( Date: 30-Mar-2023 15:24) Posted:
| Selling now more likely now after opening at 0.118/0.119. See whether can go past 0.12 nxt. |
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