Strategic Marine has 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 Singapore-based shipbuilder has 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 105m long dry dock facility and a slipway.
“This new development immediately increases our operational footprint,” said Chan Eng Yew, CEO of Strategic Marine, adding that the shipyard is already in discussions with existing and new clients on several projects and that is looking to convert these discussions into contracts in the next few months.
“Thanks also to the Strategic Marine team as they have laid the foundation for our growing orderbook and brand name in the market. Aside from the ship construction, we are also looking to enhance our product line up to meet current conditions and needs.
“We have a team working on product development and we hope to be introducing new designs and new products within the next few months. At the same time, we are actively exploring additional yard capacity in this region as well in order to bolster the capabilities of our newly acquired facility,” added Chan.