Keppel pops the champagne on $4.9bn order wins

Analyst predicts $5.9b sealed deals this year.

According to Phillip Securities Research, Keppel announced that it has secured new repeat orders from Clearwater Capital Partners (Clearwater) for 2 jack-ups worth US$440mn (~S$550mn). Clearwater’s order lifted YTD order wins to S$4.9bn, against Phillip Securities' full-year order forecast of S$5.9bn for FY13E.

"We believe order momentum remains strong as oil companies like Pemex continue to expand its rig fleet, which in turn could benefit Keppel Corp," says Phillip Securities Research.

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Delivery is scheduled for 4Q15 and 1Q16 and will be based on the premium KFELS B Class design. When completed, these rigs will be able to operate in water depths of up to 400 feet, drill to 30,000 feet deep and equipped with offline standbuilding capability