AsiaShipyards

Keppel Corporation looks at selling its yards

Singapore’s Keppel Corporation has suggested it could sell off its shipping facilities following a senior management meeting this week.

The conglomerate, one of the largest in the Southeast Asian republic, involved in real estate, infrastructure and asset management, will carry out a strategic review of its offshore and marine business amid what it conceded is still a “challenging” environment. Options on the table include scaling back its global operations, switching to a greater renewable energy focus, merging or selling the division.

A merger with fellow Singaporean shipyard group Sembawang has long been discussed as the country struggles to remain competitive in the shipyard sector amid lower cost options across Asia.

Tags

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

Comments

Back to top button
Close
Close