Singapore’s SembMarine is necessary for the survival of its O&M environment.
But recent new has the industry shaken a bit, and few people understand how it will play out. Even less people know how to handle it all at once. With SembMarine so vital to Singapore’s O&M, an intervention is necessary. It should be underway immediately.
The emergency comes from a big player in the industry and their filing for bankruptcy.
Sete Brasil’s bankruptcy came before formal trading hours in 2016 and on April 21. Since, the Keppel Corporation and Semcorp Marine shares have traded in the red. It’s a drastic scenario. But more fear is fueling the ongoing and downward spiral of the company.
Things are going out of control. So you need to save yourself from this downfall, I’m just reading some stuff about good Singapore flexi loans to help me break even my income + expenses.
The drop in the trading markets occurred as concern for Sete Brasil. The company showed weak fundamental analysis in the O&M sector. The is the offshore and marine sector which is vital to Singapore and its economy.
The appeal of Keppel Corporation and Sembcorp Marine have been heavily questioned by investors. There is a lack of faith. The two groups cover institutional and retail sections.
The bankruptcy by Sete Brasil relates directly to the two O&M companies however.
Sete Brasil owns singular rig-building manufacturing needed for both Keppel Corporation and Sembcorp Marine. The company represents roughly $5 billion USD on the prior two company’s books.
There were also market indicators of this big news in bankruptcy.
Hercules Offshore, a Houston-based group, made light of this potential earlier in the year. They proclaimed that Sete Brasil would face the need to file for Chapter 11. This is a bankruptcy clause that offers protection against outstanding debts.
The events came as foresight to Hercules Offshore after Sete Brasil’s inability for repayment of a $450 million USD personal loan. The end clients for Hercules and Sete’s contracts would be Masersk Oil and Petrobras should thing continue through.
Now is nothing but embarrassment.