Sembcorp Marine to shut local yard by the end of this year

Awash in red ink Singapore’s Sembcorp Marine is shuttering a local yard four years earlier than scheduled.

SembMarine has revealed a full year net loss of S$74.1m for 2018, a sharp reversal from the $260.2m the year before.

In announcing its full year results SembMarine, one of the two largest shipyard companies in Singapore, said it would close its Tanjong Kling Yard in the west of the republic by the end of this year, four years ahead of schedule. The 49 ha yard has two drydocks, one of which is among the largest in the world, capable of handling ULCCs.

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.
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