Why rig builders are shifting their funds from Norwegian market to Singapore

It has 13 units of rigs ordered.

Accordng to CIMB, they have noticed that high rollers from Singapore and second-tier offshore & marine companies are shifting their „funds‟ to speculate on rigs, driven by the tight regulatory and monetary control of properties in Singapore amid a low-yield environment.

CIMB also said that reflecting the global financial market trend, speculative rig-building is seeing a shift from the Norwegian market to Singapore, which currently has 13 units of rigs ordered or 15% of the newbuild market share.

"Swissco Holdings, Falcon Energy and KS Energy are the Singapore-listed O&M plays to watch for in the next two years, with a potential 33% increase in their BV from the sale of rigs. Keppel is the top pick in our coverage," CIMB said.