Towards Financial Freedom
Offshore and Marine: What next after Petrobras?
Not the end of rig orders. Sete Brasil has awarded contracts for the package of 21 drilling rigs, in which both Keppel and Sembcorp Marine (SMM) secured their fair share, within consensus expectations. While the Petrobras-related contracts had accounted for a substantial chunk of rig contracts for the duo this year, this does not yet mark the end of the rig-ordering cycle. We believe that rig order flows would remain robust and we continue to favour the rig-building yards (Keppel, SMM, SCI).
Source: Maybank Kim Eng
Source: Maybank Kim Eng
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