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Last year, Singapore's Keppel Offshore & Marine and
Sembcorp Marine were the world leaders, bagging a record US$13.8 billion
in offshore rigbuilding contracts. - PHOTO: KEPPEL
[SINGAPORE] Despite being relative newcomers to offshore rigs,
China-based shipbuilding yards have held on to their lead in rig orders
in 2013. This has led analysts like Vincent Fernando from Religare
Capital Markets to think of 2013 as the "tipping point" for China's
rigbuilding industry.
Rigzone data shows China has collected US$5.06 billion in orders for jack-ups, semisubmersibles and tender rigs in the year to date - ahead of US$4.37 billion in the bag for the Singapore powerhouses.
Last year, Singapore's Keppel Offshore & Marine and Sembcorp Marine were the world leaders, bagging a record US$13.8 billion in offshore rigbuilding contracts.
Mr Fernando thinks that the Chinese yards may break through the stigma of delays and quality issues associated with rigs built by newcomers. They also enjoy the support of their government and of multinationals.
Rigzone data shows China has collected US$5.06 billion in orders for jack-ups, semisubmersibles and tender rigs in the year to date - ahead of US$4.37 billion in the bag for the Singapore powerhouses.
Last year, Singapore's Keppel Offshore & Marine and Sembcorp Marine were the world leaders, bagging a record US$13.8 billion in offshore rigbuilding contracts.
Mr Fernando thinks that the Chinese yards may break through the stigma of delays and quality issues associated with rigs built by newcomers. They also enjoy the support of their government and of multinationals.
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