KepCorp

KepCorp has secured 4 contracts worth about $50m for the construction of 3 transhipment barges for 3 Indon clients the upgrading of a drillship for Frontier Drilling. 2 barges will be completed by end 10 while the 3rd is scheduled for delivery in 1Q11. So far, the group has only managed to clinch $50m worth of orders in 2Q vs $1.66bn in the 1Q, suggesting a sharp slowdown in orderflow. All eyes will now be on the award of the Petrobras 28-rig tender, where KepCorp is 1 of 5 remaining bidders.