Singapore’s top two yards have completed their mega merger, ending a two-decade saga.
Keppel Offshore & Marine (Keppel O&M) and Sembcorp Marine have joined forces and will trade under the Sembcorp brand with Keppel’s Chris Ong taking charge of the yard giant.
The combined yard group has a total orderbook of S$18bn ($13.4bn) lasting through to 2026.
“While integration of this scale will present challenges, the enlarged group is expected to benefit from greater synergies from the broader geographical footprint, larger operational scale and enhanced capabilities of Singapore’s two leading O&M companies,” Sembcorp Marine said.
Merging the shipyard units of Keppel and Sembcorp has been mooted many times over the past 20 years as Singapore faces up to cheaper shipyard competition across Asia.
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