Read? Kep Corp: 3Q & 9M 2013 REPORT CARD


Record Net Order Book at S$13.6 billion but lower revenue @ 9M 2013

What happen?
 

Read? Singapore Rig Builders Fend Off Chinese, Korean Competition


"There's a substantial glut in shipbuilding capacity in China and the yards aren't getting orders so they're making a push into offshore rig markets," Religare Capital analyst Vincent Fernando was quoted in the report, which noted that China may rival Singapore in terms of rig production capacity by 2015.

With little signs of a recovery in the global shipbuilding sector, Chinese and South Korean yards are incentivized to win contracts in the offshore construction markets – including rigs – to compensate for the dip in new ship orders. Yards struggling to stay afloat in China – the world’s largest shipbuilder according to Clarkson Research – are tempted to undercut market prices for newbuild rigs in ......