Keppel Offshore & Marine has received indications from Seadrill, Scorpion Offshore and Lewek Shipping that they are reviewing their options on newbuilding contracts that were signed in the middle of this year.
The contracts under review are for a semisubmersible for Scorpion Offshore, two jack-up rigs for Seadrill and a multi-functional support vessel for Lewek Shipping. Keppel is in talks with them to arrive at mutually acceptable arrangements for these contracts, said the company in a statement. Construction work has not started on these projects, but down payments have been received. “If these contracts are cancelled, the cancellations are not expected to have any material impact on the net tangible assets or earnings per share of Keppel Corporation for the financial year ending 31 December 2008,” said Keppel.
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