Here's proof that Keppel is winning against Chinese rivals

It keeps its customers loyal.

According to CIMB, despite the unbeatable financing offered by the Chinese yards, Keppel has not lost any customers on this basis. Other than Seadrill which uses both Chinese and Singapore yards, none of the orders for China yards was placed by Keppel’s existing customers.

Here's more:

Most of these speculators are attracted to the favourable financing terms offered by the Chinese yards, which would not have considered entering into rig-building had it not been for the terms.

While Chinese yards’ market share in newbuilding has inched up to 54% in 2013 from 45% in 2012 by squeezing out the Middle East yards, Singapore yards have kept their market share at about 40%.

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