Keppel targets new non-rig orders from Brazil yards

As China counterpart cuts prices.

According to Bloomberg, Keppel Corp. (KEP), the world’s largest oil-rig maker, will focus on building more offshore production and support vessels in Brazil as competition from China cuts prices for its main product.

"Brazil’s offshore development boom means Keppel’s yard is now mainly utilized for building rigs for state-owned Petroleo Brasileiro SA," Bloomberg said.

View the full report here.

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