Keppel Corp

Keppel Corp: In a bid to rival the Korean yards in the drillship market segment, Keppel Corp has announced that it will be proceeding with the building of its new CAN DO drillship. When completed in 2016, the drillship is expected to be a state-of-the-art deepwater exploration, development and completion drilling vessel. With most modern drillships currently in operation designed and built for exploration drilling, industry feedback has revealed the need for vessels capable of performing development and completion drilling in addition to exploration drilling. Keppel Corp believes that its new drillship design would meet the high functionality, safety and cost-effective requirements of the industry. Jointly developed by Keppel Offshore & Marine Technology Centre (KOMtech), and its design partner GustoMSC, Keppel’s CAN DO drillship is designed to overcome the constraints of limited deck space found in most modern day drillships. With the Korean Yards having traditionally dominating the drillship segment, Keppel Corp’s drive with its new design could potentially enable the group to diversify and gain a stronger foothold in the drillship segment, if its latest design is well-received by the industry. Overall, majority of the street continues to favour Keppel, with 20 Buys and 4 Hold ratings and a mean TP of $12.68.