Kep Corp, Semb Marine

Kep Corp, Semb Marine: Petrobras has approved 6 newbuild semisubs in a contract with Sete Brasil. DBS has view that this could signal conversion of Kep Corp's LOI into a firm contract and SembMar could also announce firm orders for remaining 5 Petrobras drillships. Apart from the 28-rig newbuild programme, other Petrobras-related contracts could be on the horizon inclding 8 FPSO and integration for 2 chartered FPSOs which Kep Corp and SembMar are likely contenders.