Keppel Corp’s offshore and marine operations returned to the black in 2022 on the back of improving market conditions.

The Singapore-listed company recorded a net profit for the year of SGD 88m ($67m) reversing the previous year’s net loss of SGD 225m.

Keppel Offshore & Marine (Keppel O&M) secured SGD 8.1bn of new orders during last year, bringing its net orderbook to SGD 11bn at the end of December 2022 — the highest level since 2007.