Keppel Corp wins a whopping $358m semisub deal from repeat customer

It'll be delivered in 1Q14.

According to OSK, Keppel Corp (KEP) has secured a new contract worth USD280m (SGD358m) to build an accommodation semi-submersible (semisub) for Floatel International Ltd (Floatel).

This is Floatel’s fifth unit order and the price is USD20m higher than the previous order of a similar design in June 2011.

Here's more:

Floatel’s fifth accommodation semisub. The new 500-pax semisub will be built based on KEP’s proprietary SSAUTM 5000NG design and is scheduled for delivery in 4Q2015.

The company had delivered two accommodation semisubs, Floatel Superior and Floatel Reliance, in 2010, and is currently building Floatel Victory (ordered in June 2011) and Floatel Endurance (ordered in Aug 2012).

The fifth unit will have a similar design to Floatel Victory, which is scheduled for delivery in 1Q2014.

Floatel Endurance, to be delivered in 4Q2013, has a different design and is based on the DSSTM 20NS design. Higher pricing and repeat order positive for margins. The latest unit has a similar design with Floatel Victory but is priced USD20m higher. Floatel Victory was priced at USD260m in June 2011.