Keppel Corp: lands new contracts worth $240m.
Under one contract, Keppel will build a prototype multi-purpose dive support construction vessel (DSCV) for SBM Offshore, to be delivered in 2Q13. SBM is a long time customer of Keppel, with completed contracts involving 13 FPSO completions, and 4 FPSO conversion projects in progress…
In another contract, Keppel has received a fast-track project for the upgrading of an FPSO vessel from Petrofac Int’l (UAE) for which work commenced in 1Q. Designated for an oil and gas field offshore Peninsular Msia, this FPSO facility will be able to handle both oil and gas pdtn.
Keppel’s ytd order book wins now stand at $4.9b, making it on track to meeting Street expectations of up to $7b worth of orders for this yr...
The Street has mainly Buy ratings on the stock, with recent TP ranging btwn $13.92 – 15.10.
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