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Singapore's Keppel shipyard significantly impacted by low oil price

Singapore's large Keppel shipyard has seen such large losses in its offshore and marine business due to the low oil price that it has been necessary to issue a warning to investors before publishing its interim report.

Photo: PR / Keppel
BY

The drop of the oil price will affect both the results and bottom line at Singapore's major Keppel shipyard to such a large extent that the yard has had to inform investors and the financial markets prior to the publication of its interim report.

In a statement from Keppel Corporation, the company writes that the interim report will contain significant impairments, which relate to recent months' drop in the oil price as well as energy companies' unwillingness to invest.

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