Singapore’s Sembcorp Marine posted that revenue from rig building increased $574m to $918m in the third quarter of 2013.
This is a substantial increase compared to $344m a year ago, according to company’s financial results released Tuesday.
Sembcorp said a total of five rigs achieved initial revenue recognition in 3Q 2013.
the company also said the repair sector accounted for a 34% increase in revenue from $123m in 3Q 2012 to $164m in 3Q 2013.
Altogether, Sembcorp Marine recorded a 12% increase in net profit for 3Q 2013.