Sembcorp Marine of Singapore has continued to suffer from the drydock-deferring effects of strong shipping markets.
The group reported a 10.8% rise to SGD 829m ($477m) in turnover to for the first nine months of the year, but said the increase was mainly attributable to ship conversion and newbuilding work.
The decline in shiprepair revenues of SGD 97.1m to SGD247m was, Sembcorp said, "mainly due to the postponement of vessel repairs as result of the high freight rates and the SARS outbreak experienced during the first half of 2003".
The
