Singapore Shipyards Keep Busy in Second Half of Year
Singapore’s two major offshore players manage to keep themselves busy in the second half of this year after a fairly slow first half, with orders for newbuild rigs trickling towards the total received for 2013.
While Singapore’s Keppel Offshore & Marine (Keppel O&M) – a unit of Keppel Corp. Ltd. – and Sembcorp Marine Ltd. have been dealing with stiff competition from Chinese yards for quite some time, established China’s shipyard Cosco Corp. is now feeling the strain posed by a more challenging business environment created by its domestic rivals.
Singapore Yards Edge Nearer to 2013 Rig Orders
Both Singapore yards, Keppel Offshore & Marine (Keppel O&M) – a unit of Keppel Corp. Ltd. – and Sembcorp Marine Ltd., bagged 13 newbuild orders, consisting of 11 jackups and 2 drillships, by the end of November, according to Rigzone’s RigLogix database. Last year, these companies secured 17 newbuild orders, comprising 15 jackups, 1 semisubmersible and 1 drillship.
Keppel O&M managed to match last year’s total of eight jackup orders, while Sembcorp Marine received only three jackup orders in the same period, four less than in 2013 although it bagged $1.08 billion orders for two drillships from a subsidiary of Transocean Ltd. earlier this year.
View Full Article
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.