SINGAPORE -- One of Singapore's biggest offshore rig builders has reported a fourfold surge in annual net losses and warns of further pain ahead as the city-state's shipbuilding sector struggles to overcome challenges from the coronavirus pandemic.
Energy
Sembcorp Marine's losses bode ill for Singaporean shipbuilding
Rig builder log warns of more pandemic pain as rival Keppel exits the industry
Sembcorp Marine on Tuesday reported a net loss of $440 million for 2020 due to largely to the coronavirus pandemic. © Reuters
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