Singapore offshore yards grabbed 12 newbuild orders from Mexico

Are Chinese yards fazed by this?

According to Nomura, Singapore-based offshore yards have secured a total of 12 JU newbuild orders since December 2012 of which both SMM and Keppel have secured six orders each. 

Drillers in Mexico have exhibited a pattern of building same design rigs. While Grupo R have ordered four rigs based on Keppel’s KFELS B class design, all of Oro Negro’s orders have been of Pacific Class 400 design.

Here's more from Nomura:

This re-affirms our thesis that drillers prefers having multiple rigs of same design as this results in lower operating and maintenance costs and improved efficiencies.

In our view, Singapore yards securing 12 newbuild orders from Mexico, has given them a head start in capturing the Mexican market over the Chinese yards.