Strategic Marine Acquires New Shipyard in Singapore

Friday, February 4, 2022

Strategic Marine announced it has completed the acquisition of a significantly larger shipbuilding facility in Singapore in a move intended to boost the company's shipbuilding capacity and product range.

Strategic Marine has acquired the fixed infrastructure as well as the lease of the shipyard at 5 Benoi Road and has completed the lease transfer from JTC Corporation, the lessor of the shipyard.  

Notable features of the facility include a 5,000 DWT Dry Dock (L: 105M x W: 18.5m x D: 8m) and a 6,000 DWT slipway.

According to Strategic Marine, the larger facility will allow it to scale up shipbuilding capabilities and expand its product offering to deliver larger vessels and execute vessel repair/maintenance services. Its shipbuilding, repair and maintenance capacity will also be increased with a 105m long dry dock facility and a slipway.

“We are delighted with this new development as it immediately increases our operational footprint. We are already in discussions with existing and new clients on several projects and we are hopeful these discussions will culminate in contracts in the next few months,” Chan Eng Yew, CEO of Strategic Marine said.

“Thanks also to the Strategic Marine team as they have laid the foundation for our growing orderbook and brand name in the market.  Aside from the ship construction, we are also looking to enhance our product line up to meet current conditions and needs.

“We have a team working on product development and we hope to be introducing new designs and new products within the next few months.  At the same time, we are actively exploring additional yard capacity in this region as well in order to bolster the capabilities of our newly acquired facility.”

Categories: Shipbuilding Ship Repair & Conversion Vessels Mergers & Acquisitions Industry News Activity Asia Singapore

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