he Association of Singapore Marine Industries (ASMI) is collaborating with Marshall Cavendish Business Information once again to publish the annual Singapore Shiprepairing, Shipbuilding & Offshore Industries Directory 2018/2019. This Directory compiles a list of companies operating in the marine and offshore engineering industry in Singapore and the products and services they offer.
The Singapore marine and offshore engineering industry is a leading player in the global arena. The industry generated a credible total turnover of S$13.06 billion in 2016 despite the prolonged downcycle due to low oil prices and budget cuts in exploration and production activities. The industry is currently at an interesting cross road where we are at the start of another technological revolution that is hitting businesses and industries around the world with the internet of things and globalised digitalisation. Despite the current downturn, our industry players must take cognizance of the changes surrounding us and ride the tide to transform their businesses to stay in the game.
The marine and offshore and upstream oil and gas industries remain challenging. Although there have been encouraging signs of recovery in some areas, a more robust recovery will take a longer time.
There are opportunities in the non-drilling sector and gas value chain. The rising global demand for gas and the use of LNG as an alternative marine fuel have led to Singapore shipyards developing technologies and solutions to cater to this market. Clean energy, gas supply-chain, wind and solar energy, ballast water system, autonomous vessels and so on are the ‘buzz’ areas of today. Industry members must capitalise on these opportunities and develop capabilities to offer innovative solutions in the gas and offshore value chains.
ASMI plays the roles of catalyst and integrator for the marine and offshore engineering industry. The Association was set up in 1968 as a platform to develop the repair and shipbuilding industry in Singapore. Over the years, it has expanded its scope beyond shipyards to include the entire marine and offshore engineering ecosystem.
Today, ASMI is the industry champion for the marine and offshore engineering industry. She provides the platform for mutual sharing of experiences where members work together to pursue common goals and interests.
The Directory serves as a handy resource for the Singapore marine and offshore engineering industry. We trust you will find the publication helpful for your reference and information.
Mr Abu Bakar Bin Mohd Nor
Association of Singapore Marine Industries