AsiaShipyards

Singapore mega yard merger moves ahead

Shareholders of Sembcorp Marine (Sembmarine) voted to merge with Keppel Offshore & Marine (Keppel O&M) today paving the way for the consolidation of the Singapore shipyard scene.

The $4.5bn deal won the approval of 95.28% of voting shareholders at a virtual extraordinary general meeting.

With the merger now green-lighted, Keppel’s Chris Ong will be appointed managing director of the yard giant.

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.

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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