Singapore today enjoys a sterling reputation for having one of the most thriving marine & offshore industry in the world. It is the world leader in building oil and gas drilling/production units, offshore support vessels, FPSO conversion, and the top location in Asia Pacific for the manufacturing of oil and gas equipments.
In 2010, Singapore’s marine & offshore engineering industry output totalled S$16 billion, making it one of the fastest growing sectors in our economy in the last few years. The industry employed more than 90,000 workers in that same year.
The country’s robust and dynamic supply chain and precision engineering infrastructure, as well as its reputation for consistent high quality and timely delivery, have made Singapore the marine & offshore hub of choice for global companies.
Many of the world-class marine & offshore companies are drawn to establish and expand their operations in Singapore because of the wide range of marine-related services, such as classification services, maritime law and insurance services, and offshore support services, available to companies.
To maintain its leadership position in the global marine & offshore market, Singapore is sharpening its competitive advantages. An innovative solution that JTC is embarking on is the development of a 13-ha Offshore Marine Centre
- Singapore has 70% of the world market for jack-up rigs.
- It also has 70% of the global market for the conversion of Floating Production Storage Offloading units.
- 20% of the world’s specialised vessels are repaired in Singapore.
- Large shipyard groups such as SembCorp Marine Ltd play major role in Singapore’s marine & offshore industry.