O&M segment weighs on Keppel Q2 bottomline

Singapore

WITH no new rig orders in sight so far this year, rigbuilder Keppel Corp said on Thursday that it is still in the midst of working out financing for vessels that it is building for Sete Brasil and has also delayed the construction of a drillship that it is still trying to find a buyer for.

This came as Keppel Corp - a conglomerate whose key segments are offshore & marine, property and infrastructure - posted a dip in second-quarter group earnings that would have been worse if not for a major divestment in the three months ended June 30.