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Tuesday, January 25, 2011

Keppel to build two jackups for Clearwater worth US$360 million

Keppel to build two jackups for Clearwater worth US$360 million:
Key Points
  • Keppel FELS Limited (Keppel FELS) has secured new orders from Clearwater Capital Partners, LLC (Clearwater) to build a pair of premium KFELS B Class jackup rigs at US$360 million. 
  • The two high specification jackups are scheduled for delivery in 1Q 2013 and 2Q 2013 respectively.
  • As part of the agreement, Clearwater has options to build another two similar jackup units with Keppel FELS. If exercised, the options for the additional two rigs will bring the total contract value to above US$730 million.
About Clearwater
Clearwater Capital Partners, LLC (Clearwater) is an investment firm founded in December 2001 and dedicated to investing in special situations across Asia, excluding Japan. Since inception Clearwater has invested over $2.5 billion in the Asia region and currently manages over $2 billion in assets across its four investment vehicles. Clearwater’s multi-disciplinary team consists of more than 70 professionals based in six primary offices across Asia including a Singapore office with a 17 person team. For more information, please visit: http://www.clearwatercapitalpartners.com.
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