Singapore yard notes improvement in 2018

Keppel Offshore & Marine exits 2018 on significantly better terms than the year before. Revenue has started to rise again, shows financial report. However, the shipyard maintains a deficit.

Photo: /ritzau/AP/Wong Maye/

Singapore's major shipyard Keppel Offshore & Marine experienced significant improvement in 2018, where the company's earnings started to grow again, shows conglomerate Keppel Corporation's financial report, which Keppel Offshore & Marine is part of, published Thursday.

For the yard alone, revenue increased by 4 percent to just SGD 1.9 billion (USD 1.4 billion). The increase comes from the sale of jackup rigs to rig company Borr Drilling and higher revenue from ongoing projects.

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