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DECEMBER 5, 2005 
BusinessWeek Online - ASIAN BUSINESS
SembMarine: Cleaning Up After Katrina
Offshore oil rig builder SembMarine has a pile of post-hurricane contracts
In the wake of hurricanes Katrina and Rita, companies in the Gulf of Mexico region that make house trailers and building materials are doing a banner business. But one of the biggest beneficiaries is a company that few in the Gulf have heard of: SembCorp Marine Ltd. of Singapore. SembMarine, as it is known, builds and repairs offshore oil and gas rigs -- the giant platforms often situated miles out to sea that suck fuel from below the seabed. Eighteen of those rigs were destroyed or seriously damaged in the storms, and it will cost from $100 million to $600 million each to replace them. Much of that money will flow into the coffers of SembMarine and another Singapore rig builder, Keppel Corp., which together control 75% of the global market for oil and gas rigs. Temasek, the Singapore state holding company, has controlling stakes in Keppel and SembMarine.
BusinessWeek Online - ASIAN BUSINESS
SembMarine: Cleaning Up After Katrina
Offshore oil rig builder SembMarine has a pile of post-hurricane contracts
In the wake of hurricanes Katrina and Rita, companies in the Gulf of Mexico region that make house trailers and building materials are doing a banner business. But one of the biggest beneficiaries is a company that few in the Gulf have heard of: SembCorp Marine Ltd. of Singapore. SembMarine, as it is known, builds and repairs offshore oil and gas rigs -- the giant platforms often situated miles out to sea that suck fuel from below the seabed. Eighteen of those rigs were destroyed or seriously damaged in the storms, and it will cost from $100 million to $600 million each to replace them. Much of that money will flow into the coffers of SembMarine and another Singapore rig builder, Keppel Corp., which together control 75% of the global market for oil and gas rigs. Temasek, the Singapore state holding company, has controlling stakes in Keppel and SembMarine.
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