ShippingWatch

Keppel: Severe dry spell for our offshore division

The drastic investment downturn in the oil industry has kicked off a large-scale organization change at Keppel Offshore & Marine, and the company has also said goodbye to several subcontractors, explains the CEO of the Singapore-based shipyard in this exclusive interview with ShippingWatch.

Y.Y Chow (right) during Singapore Shipping Week.

SINGAPORE

Even though Singapore does not have as much as one drop of oil in its underground, the small island state is still able to call itself the world’s biggest producer of drilling rigs. The problem is just that there are virtually no orders for this kind of costly equipment right now.

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