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.
Truly the end of an era with Keppel possible yard closure