Keppel pops the champagne on $3.3b worth of new orders

Thanks to strength in order flow.

According to Nomura, Keppel has secured USD 2.7bn (~SGD 3.3bn) worth of new orders in 1H 2013 against our target of SGD 6.5bn for 2013. The strength in new order flow in 2013 YTD has been underpinned by resurgence in orders for JUs.

Keppel reported an orderbook of SGD 13.1bn at the time of 1Q13 results.

Here's more from Nomura:

Including today’s order, most of the newbuilds under construction or on order at Keppel have been based on proprietary designs. Therefore we expect strong margins on these contracts, given better understanding of rig complexity and minimisation of any re-work.

Keppel FELS, a wholly owned subsidiary of Keppel Corp, has secured a USD 210mn contract from PV Drilling (subsidiary of PetroVietnam) for construction of a jack-up (JU) newbuild. This is Keppel’s eighth JU order this year and along with Sembcorp Marine, Singapore-based offshore yards have secured a total of 15 JU new orders YTD.

In addition, the rigs being based on proprietary designs implies stronger margins for the yards, in our view, given higher efficiencies and better understanding of rig design.

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia