Read? Look at how strong 1H13 was for Singapore rig builders
Keppel clinched S$3.5bn worth of contracts.
According to Phillip Securities, 1H13 has remained a strong quarter in terms of order wins for rig builders.
Here's more from Phillip Securities:
Keppel Corp bagged S$3.5bn worth of contracts, which included a S$1bn contract from SOCAR for a semi-sub rig based on its proprietary KFELS DSS 38M design, customized for the Caspian Sea’s harsh environment condition.
The group has a net order book of S$13.1bn, with visibility until 2019. Similarly, Sembcorp Marine fared well with total new orders of S$3.5bn, including S$750mn worth of contract for an ultra-high spec jack-up rig based on the proven Gusto MSC CJ70 design for Noble.
The group’s net order book is at a new record high of S$14.4bn.
If net margin is too squeezed by more competitions, Kep Corp's earning should be okay.