Keppel struggles with lacklustre order wins on back of massive oil price rout

It clinched $5.1b worth of contracts in FY14.

Keppel’s order wins missed analyst expectations in 2014. The offshore and marine giant’s total order book stood at $5.1b in FY14, missing OSK DMG’s $6b forecast by 15%.

OSK DMG notes that the firm’s lacklustre order flow is likely due to the oil price slump. However, Keppel’s order flow outlook should improve as prices seem to have stabilized.

“Keppel still has c.SGD4.4bn worth of options, ie three quarters of our SGD6bn/year order win forecast, to be exercised in FY15, comprising 13 jack-up rigs and one floating liquefied natural gas (FLNG) vessel. We believe the probabilities of exercise for the six Mexican rigs, two Gulf rigs and the FLNG vessel – totaling SGD2.6bn – are especially high,” stated OSK DMG.

Keppel closed 2014 by winning two contracts totalling $1.1b. It clinched a $940m FLNG conversion deal from repeat customer Golar LNG, along with a contact for a a large land rig in the US for worth over US$100m.

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. 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