Sembcorp Marine's repair revenue down 6% to $137.5m
The firm repaired only 128 vessels in Q2.
Sembcorp Marine reported lower revenues from repairs during the past quarter, down 6% to $137.5m.
According to UOB Kay Hian analyst Foo Zhi Wei, this is due to the slight dip in the number of vessels repaired for the quarter.
In 2Q17, the marine group managed to repair only 128 vessels, slightly down from the 133 vessels repaired last year.
With this, implied revenue per vessel dipped 2% yoy to $1.1m YoY.
However, this was up significantly by 32% compared to the last quarter. "The uptick in revenue per vessel was attributed to higher project values," the analyst said.