Sembcorp Marine

Sembcorp Marine (SMM): Secured upgrading works for an 115,875 grt passenger ship, Diamond Princess, from Princess Cruises, a brand under Carnival Corporation. The pleased customer of a recent retrofitting project for another passenger vessel, Sun Princess, has also came on board Sembcorp Marine's long-term favoured customer contract, which will see further dockings by Princess Cruises at the group's Sembawang shipyard going forward. Princess Cruises currently has a fleet of 17 passenger vessels. Bloomberg consensus estimates SMM’s 12-month TP at $5.00, implying a 11% upside from its last close.