s the industry champion, the Association of Singapore Marine Industries (ASMI) plays an important role in driving the local marine and offshore engineering (M&OE) industry’s transformation. With the global energy transition shifting towards renewable energy from the traditional oil and gas, ASMI’s role is even more critical as the industry diversifies and expands its products and services, as well as upgrades its expertise to remain competitive as a premier centre of choice for customised, quality and value-added marine and offshore solutions and services.
The Association also has a significant role to play as a bridge between the public and private sectors and in serving as the voice of the M&OE industry. ASMI provides a platform for the advancement of the interests of the M&OE industry. In this respect, it facilitates the development of new capabilities and adoption of smart technologies; encourages diversification into new products and markets as well as executes new initiatives to help industry members upgrade and transform their businesses.
Over the years, Singapore’s M&OE industry has shown resilience despite facing numerous headwinds. Singapore remains a leading player in the competitive and ever changing global arena of marine and offshore. The M&OE industry generated a strong total turnover of S$10.3 billion in 2018 despite the economic gridlock.
2020 brings new challenges but also opportunities. The COVID-19 outbreak has caused trade disruptions, manpower and supply shortages, project delivery delays, reduced industrial activity and travel restrictions, and a drop in expected oil demand growth globally. It adds to the already challenging and volatile global environment caused by geopolitical tensions and rising protectionism. However, it is not all doom and gloom for the industry.
The rising global demand for gas, use of liquefied natural gas as an alternative marine fuel and development in offshore energy presents Singapore players with opportunities to develop innovative technologies and solutions to cater to these growing markets. In addition, advanced manufacturing technologies enable companies, particularly small and medium-sized enterprises, to stay competitive with improved work processes, cost efficiency and better use of limited resources. We urge industry members to capitalise on opportunities and smart technologies to develop new capabilities and transform for growth and future sustainability.
ASMI and Marshall Cavendish Business Information Pte Ltd have collaborated to produce the Singapore Shiprepairing, Shipbuilding and Offshore Industries Directory for the last 19 years, since 2002. This Directory is a comprehensive compilation and informative resource on companies providing products, services and solutions in the M&OE industry in Singapore. We trust the publication will be a useful reference tool for your needs, from identifying new business opportunities to forging meaningful partnerships within the industry.
Mr Simon Kuik
Association of Singapore Marine Industries