AsiaFinance and InsuranceOffshoreShipyards

Singapore shipyard eyes 2024 IPO

Singapore shipbuilder Strategic Marine has announced plans to list in 2024.

Speaking with The Straits Times, chief executive Chan Eng Yew said proceeds would go to expand production capacity at its local yard as well as expanding overseas to places such as Indonesia, Vietnam and the Philippines.

This February Strategic Marine completed the acquisition of a significantly larger shipbuilding facility in Singapore in a move that is expected to boost its shipbuilding capacity and product range. The shipbuilder acquired the fixed infrastructure as well as the lease of the shipyard at 5 Benoi Road and has completed the lease transfer from JTC Corporation, the lessor of the shipyard.

The facility that features a 5,000 dwt dry dock and a 6,000 dwt slipway, will see Strategic Marine scale up shipbuilding capabilities and expand to deliver larger vessels and execute vessel repair and maintenance services. The shipyard added the capacity will also be greatly increased with a 105 m long dry dock facility and a slipway.

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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