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Petromin marine and offshore Jan-Feb Issue

Singapore ship repairing

Singapore ship repairing has gained international recognition for its specialised re-construction jobs, which range from conversion to jumboisation. The extensive capabilities in ship repairing means a multitude of repair, reconstruction and conversion jobs can be carried out with high quality and timely delivery. The versatility of local shipyards is reflected in the wide range of ship conversions undertaken. Ship repair is carried out in shipyards and at the anchorage. To meet the needs of shipowners using the port, voyage repairs are readily available on call. Projects include the conversion of car carriers to livestock carriers and tankers to FPSOs, just to name a few. Over the years, Singapore shipbuilders have earned a reputation for fair prices, quality workmanship and short delivery time, for a range of specialised and customised vessels. Shipbuilding has progressed from minor projects such as the construction of wooden launches and fishing boats to major projects like steel vessels and specialised ships. Vessels built include cableships, container vessels, product tankers, naval ships, landing ship tanks and patrol crafts. In 1969, Singapore delivered its first jack-up rig. Five years later, it grew from infancy to become the largest builder of jack-ups in the world. Today, it still enjoys this premier status. The rig-builders are competent in repairing, upgrading, converting and building jack-up rigs, semi-submersibles, drillships, drilling tenders and FPSOs. They also have the expertise and experience to produce rigs of their own designs. Singapore shipyards have over the last three decades gained prominence for quality, specialised services, timely delivery, skilled and disciplined workforce, strong project management capabilities as well as the ability to handle sophisticated turnkey projects with complex requirements. In line with the growth of ship repair, shipbuilding and rigbuilding activities, Singapore’s marine supporting industry has also evolved. The supporting industry ranges from small to medium-sized workshops to comprehensive factory facilities. Many overseas manufacturers have also set up local agencies for their own manufacturing, sales and services facilities in Singapore. There is a comprehensive range of marine services in various industries such as electronics communication and navigation, automation precision machining, and corrosion control. In addition, there are numerous factories manufacturing or servicing marine equipment and components such as diesel engines and turbochargers. Other services available include ship design and consultancy, marine inspection and surveying. One of Singapore’s flagship rig / vessel builders is Keppel Offshore & Marine (Keppel O&M). Until a decade ago, Keppel’s stable of shipyards ran as separate entities. Their integration in 2002 formed Keppel O&M, one of the world’s largest offshore and marine groups today. This strategic move brought together three different operating companies - Keppel FELS, the leading rig designer and builder; Keppel Shipyard, the expert in 8 January to February 2018

shiprepair and conversions; and Keppel Singmarine, the shipbuilding specialist. Mr Choo Chiau Beng, CEO of Keppel Corporation and Chairman of Keppel O&M till this year, elaborated, “To become a truly global company, we would have to forge a unified team. And it was clear what we had to do. There would be no more in-fighting and competing against each other within the group. We would always focus on the outside - focus on our customers and on the marketplace.” The new, overarching unit inherited its three component companies’ more than 300 years of combined experience in the industry. At the point of integration, Keppel FELS was in its 35th “To become a truly global company, we would have to forge a unified team. And it was clear what we had to do. There would be no-more fighting and competing against each other within the group. We would always focus on the outside - focus on our customers and on the marketplace.” year, while Keppel Singmarine was at its 115th, having started as Singapore Slipway in 1887. As for Keppel Shipyard, it was in its 143rd year - the company’s lineage can be traced back to the construction of the first drydock in Singapore, which was located Mr Choo Chiau Beng, Former CEO of Keppel Corporation and Former Chairman of Keppel O&M in Keppel Harbour in 1859. In addition, working as a unified network enabled Keppel As the adage goes, the whole is far greater than the sum of its parts. Harnessing the substantial synergies and collective strengths yielded by the amalgamation, Keppel O&M has been able to offer exceptional value propositions to customers worldwide. O&M’s group of companies to better rationalise their costs and resources. For instance, cost-savings were accrued by consolidating the procurement of materials, equipment and services. And by collaborating on projects demanding a wide range of expertise, the companies could provide their customers with more competitive solutions. In 2001, Keppel O&M’s three component companies had a combined annual turnover and net profit of S$1.5 billion and S$82 million respectively. In 2011, Keppel O&M’s turnover was S$5.7 billion, while its net profit was S$1.1 billion. Its net order book has also grown from S$1.9 billion in 2003 to S$9.4 billion Mr Tong Chong Heong, CEO of Keppel O&M, shared, “The bundling of our capabilities allowed us to maximise value for our customers - they are offered an attractive matrix of cost-competitive cum world-class services.” in 2011. January to February 2018 9

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