In the third quarter of 2013 Keppel bagged SGD1.9bn ($1.53bn) in new orders for five jack-up rigs, an accommodation semi-submersible, two FPSO conversions and an upgrade of a semi-submersible. So far this year Keppel has booked 13 jack-up rig newbuilding contracts.
The Singapore yard group booked a total of about SGD5bn in new orders in the first nine months of the year and as of the end of September had a SGD13.6bn net orderbook with deliveries stretching through to 2019.
Asked about the predominance of jack-up rigs in its new orders at its third quarter financial briefing, Keppel Corp ceo Choo Chiau Beng said: “I don’t think it’s a surprise. We look forward to continued strength next year.”
Keppel has delivered 18 jack-up rigs this year. The company said demand is underpinned by the oil industry’s preference for high-specification rigs. Keppel has its own KFELs B Class design jack-up rig.
Other yards are trying to break into the jack-up rig newbuilding market which is dominated by Keppel and its Singapore compatriot Sembcorp Marine with over a 70% market share.
On Thursday Cosco (Dalian) Shipyard booked a $180m jack-up rig order from an undisclosed Asian customer.
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