Keppel snags $1.07b worth of new orders in early 2014

Thanks to a hefty US$650m deal.

According to Nomura, Keppel has announced securing a US$650mn order from new customer Fecon International Corp. With this new order, Keppel has secured orders worth a combined S$1.07bn in 2014.

This new order, like the order from UMW Oil and Gas secured on 6-Feb-2014, has been secured at a 5% premium to similar design orders secured in 2013.

Here's more from Nomura:

Including this order, Keppel have now secured 4 JU orders in 2014 YTD worth a combined US$868mn (~S$1.07bn).

We highlight that Keppel alreadyhas a 6 JU MoU with Pemex that is in the negotiation stage and has 6 outstanding options with Transocean and Ensco.

With sustained high oil prices, we think there is sufficient demand in pockets for Singapore-based rig builders to meet their new order targets in FY14F.

In addition, in our recent discussions with both Keppel and Sembcorp Marine, they highlighted that they expect Mexico to continue to remain a strong region for newbuild JU demand, especially after the government’s decision to liberalise the energy sector.

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