Petromin marine and offshore Jan-Feb Issue

Singapore has carved a niche as an enabler in the
energy and marine industries.
However, the lack of natural resources has not hindered Singapore
from being a key player in the energy and marine industries.
In tandem with how the country’s economy was built,
Singapore managed to become a key player by banking on
a long-term vision, a strong workforce, a focus on engineering
and technologies, political stability and excellent infra-structure.
The government of Singapore has played a vital role in promoting
the country as an engineering hub as well as an effective
platform for companies to locate their regional headquarters.
In essence, Singapore has carved a niche as an enabler in the
energy and marine industries.
In the upstream sector Singapore is active across various
fields, but two points of focus is vessel construction and repair
and LNG.
Construction, Conversion and Rehabilitation
ing of jack-up rigs and the conversion of FPSO (Floating Production
Storage and Offloading) units. It is also a niche player in
the construction of customised and specialised vessels.
Globally renowned for its reliable and convenient range of
comprehensive marine services, Singapore is a one-stop marine
centre for shipowners, managers and agents around the
world. Generating an annual turnover of close to $10 billion
and employing some 100,000 workers, the marine industry
plays a crucial part in Singapore’s economic growth. Ship repair
and conversion form the backbone of the local marine
industry, accounting for more than half of the total revenue.
Ship repair in Singapore dates back to when the first dry dock
was built in 1859. Due to active government encouragement
and technology transfers in the late sixties, business became
more international, and by the mid-seventies, Singapore was
firmly established as a major international ship repair centre,
particularly for larger vessels. It has maintained its leading
position since then.
The Singapore marine industry has seen significant growth
over the last 40 years, evolving from a small regional ship
repair and building centre into a world-class industry that
serves international clientele. The industry includes ship repair,
shipbuilding, rig-building and offshore engineering,
and other marine supporting services.
Today, Singapore is one of the world’s premier ship repair and
ship conversion centres as well as a global leader in the build-
The marine and offshore engineering (M&OE) industry
accounted for S$3.6 billion, or 1 per cent of Singapore’s
gross domestic product and employed more
than 23,000 locals in 2016. The industry has also
grown from its humble beginnings of just four domestic
marine firms to an eco-system anchored by homegrown
international names, notably Keppel Offshore &
Marine (KOM) and Sembcorp Marine, and backed by
over 1,000 small and medium enterprises.
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