Sembcorp Marine's Sembawang Shipyard Secures (1) The Upgrading of Diamond Princess from Princess Cruises and (2) Welcomes Princess Cruises as its Long-term Partner Under the Favored Customer Contract with Carnival Corporation, USA

October 9, 2013

Sembawang Shipyard, a wholly-owned subsidiary of Sembcorp Marine has secured the upgrading of 115,875 grt passenger ship Diamond Princess from Princess Cruises, USA. Based in Santa Clarita, Princess Cruises is one of the leading brands within Carnival Corporation, a global cruise company and one of the largest vacation companies in the world, with an impressive portfolio of leading cruise brands.

Mr John Gunner, Senior Vice President, Technical, Princess Cruises said “We are very pleased with the recent retrofit to our Sun Princess by Sembawang Shipyard. The Shipyard’s team has shown dedication and commitment working closely with our team and successfully completing the revitalization work in a timely manner and to a high QHSE standard expected for all Princess dockings. As such, we are pleased to award the upgrading of Diamond Princess to Sembawang Shipyard. Princess Cruises is also pleased to come onboard the long-term Favoured Customer Contract which Carnival Corporation has with Sembawang Shipyard for our future dockings in Singapore. We look forward to a good partnership in the years ahead which will enhance the results of our docking and revitalization program.”

“We are very pleased to be chosen by Princess Cruises for the upgrading of Diamond Princess and welcome Princess Cruises as a long-term partner of Sembawang Shipyard. We thank Princess Cruises for the support and the confidence in our Shipyard,” said Mr P K Ong, Managing Director of Sembawang Shipyard.

The award of the upgrading work on Diamond Princess reinforces Sembawang Shipyard’s position as one of the world’s leading shipyards and Asia’s number 1 shipyard for cruise ship upgrading and repairs.

The Diamond Princess is scheduled to enter Sembawang Shipyard on 12 March 2014.

The above contract is not expected to have any material impact on the earnings per share and net tangible assets per share of Sembcorp Marine for the year ending December 31, 2013.

About Princess Cruises, USA
One of the best-known names in cruising, Princess Cruises first set sail in 1965 with a single ship cruising to Mexico. Today, the line has grown to become the third largest cruise line in the world, renowned for innovative ships, an array of onboard options, and an environment of exceptional customer service. A recognized leader in worldwide cruising, Princess offers approximately 1.7 million passengers each year the opportunity to escape to the top destinations around the globe, aboard a fleet of 17 modern vessels.

Based in Santa Clarita, California in the United States, Princess Cruises is part of Carnival Corporation, a global cruise company and one of the largest vacation companies in the world.

About Sembawang Shipyard
Sembawang Shipyard, a wholly-owned subsidiary of Sembcorp Marine, has one of the largest integrated ship repair facilities in Southeast Asia. The shipyard's world-class reputation is based on the company's commitment to high quality standards, Health, Safety and Environment standards, timely delivery, superior customer service and innovative solutions.

Besides its proven expertise in the sectors of tankers, bulk carriers and container / cargo vessels, the shipyard is also recognised as a specialist in the niche markets such as passenger ship conversion / upgrading / repairs, LNG carrier repairs, FPSO conversion, offshore conversion and newbuilding, damage repairs and repair of chemical tankers, liquefied gas carriers and navy ships. Today, Sembawang Shipyard’s portfolio of partners and customers include internationally renowned cruise ship owners and operators, including Carnival Corporation, the world’s largest cruise company with an impressive portfolio of leading cruise brands, Royal Caribbean Cruises Ltd., the world’s second largest cruise company, and Star Cruises, Asia’s leading cruise liner.

About Sembcorp Marine
Sembcorp Marine is a leading global marine and offshore engineering group with 50 years of experience and proven capabilities in repair, specialized shipbuilding, building of high-specification jack-up rigs, fast-track construction of ultradeepwater semisubmersible rigs, conversion of floating production and storage facilities as well as the engineering and construction of offshore platforms. Headquartered in Singapore, it has a network of five shipyards in Singapore – Jurong Shipyard, Sembawang Shipyard, SMOE, PPL Shipyard and Jurong SML – with strategic presence spanning Indonesia, China, India, United Kingdom and Brazil. The Group’s 73.3-hectare Integrated New Yard @Tuas in Singapore has commenced operations in August 2013. For more information about Sembcorp Marine, please visit

Sembcorp Marine press release