Untitled - Swissco Holdings Limited

OUR HISTORY
It started back in 1970 with the establishment of Sea Well
Industrial and Ship Supply Company as a sole proprietor. Our
founder Mr Yeo Chong Lin took over Sea Well Industrial and
Ship Supply Company in 1972, after a 19-year career with the
then Singapore Harbour Board (predecessor of the Port of
Singapore Authority). Our roots began in the marine supply
business as shipchandlers. We offered commercial ocean-going
ships calling at the Port of Singapore with supplies ranging from
ship spares, stores, provisions to other consumable goods. Our
first office was a rented shop house, situated in Cantonment
Road.
In our early years, we hired third-party boats to convey our
supplies or officers and/or crew of our customers to their oceangoing
ships. To achieve better operational control and efficiency,
we acquired our first OPL boat in 1973. We saw the growth of
oil drilling activities in this region then and extended our marine
supply services to oil rigs/platforms.
Swissco Offshore was incorporated in 1975 to assume the
growing business of marine logistics in operating OPL Boats.
“SWISSCO” is the acronym for “Sea Well Industrial and Ship
Supply Company”. In the same year we moved to our own
office at International Plaza with warehousing facility in Pasir
Panjang. With competition pressing down profit margin in the
1980s, we discontinued our shipchandling business to focus
on the profitable marine logistics business.
We emerged from the recession in the mid 1980’s to become
one of the leading operators of workboats serving the niche
market of OPL marine logistics, including crew change services.
In 1990, we acquired our first offshore supply tug to expand
our business to the regional Oil and Gas industry. Soon after,
we acquired our first barge to complement our offshore support
capability. During this time, the robust growth in this industry
increased the demand for offshore support vessels. We decided
to expand our fleet of tugboats and barges with two new tugs
in 1997 and two offshore support vessels in 1998.
In 1995, we relocated to 9 Pandan Road. This site of
approximately 18,000m2 of land with a waterfront of about
100m long was leased from Jurong Town Corporation. Our
Company has since gained waterfront access to base our
growing fleet of tugs and barges as well as shipbuilding and
afloat repair services. The ample space enables our Company
to value add to our clients with warehousing facilities. We built
our first barge in the early 1990s at a third party yard, and
constructed our first barge in the mid 1990s at our own shipyard.
We build our own barges for charter and sale and are constantly
renewing and expanding our fleet of vessels.
In 1996, Swisko Berjaya was incorporated in Indonesia together
with partners to extend our marine logistics business to the fast
growing Indonesian Oil and Gas industry, marine infrastructure
and mining industries. Together with Swiber Offshore, Swisko
Berjaya currently owns and operates a fleet of three tugboats,
seven barges and two offshore support vessels, and also charter
tugs and barges from Swissco Offshore and other third parties
for its operations.
In 1998, we began our ship repair business by acquiring the
premise at 60 Penjuru Lane with a 3,000 DWT dry dock.
Thereafter in 2000, we acquired two slipway facilities at 58
Penjuru Lane. SML currently oversees the operations of these
facilities. With these facilities, we have the capacity to serve the
increasing volume of ship repair and maintenance work for our
own vessels and other ship owners.
To seize the growing opportunities in this region, we established
our presence in Malaysia in joint venture companies with local
partners in 2003. Swisko Marine (Malaysia) and Asia Pacific
Marine Limited (registered in Labuan), our associated companies
were incorporated as contractors to provide marine services.
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