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Semcorp Marine Faces Financial Turmoil Amid Industry Transition

A Struggling Company in a Challenging Environment

Semcorp Marine, a prominent player in the offshore and marine engineering sector, has been on a steady decline since 2018. The company has been operating at a loss each year, with its financial setbacks intensifying over time. In the first half of this year alone, Semcorp Marine reported losses approaching SGD 650 million, a grim reflection of its ongoing struggles.