Marine & offshore sector still strong due to rising energy demand: Tan Chuan-Jin

SINGAPORE: Acting Minister for Manpower Tan Chuan-Jin said the marine and offshore industry remains strong due to rising energy demand in the world.

He said the demand is strongest in growing economies such as China.

Last year, the sector contributed over S$16 billion to Singapore's economy.

The number of locals working in the sector grew to 18,000 in December last year - an increase of about 30 per cent from the month 10 years ago.

Mr Tan was speaking at a ceremony to name a vessel by Keppel FELS, an offshore subsidiary of rigbuilding giant Keppel Corp.

The vessel, Seafox 5, will be delivered next month - more than a month ahead of schedule, with an excellent safety record.

Keppel has already received enquiries for similar vessels.

Mr Tan said it's important to build on this to attract investments and business.

"Singapore has benefited from this rising tide. We have grown from a ship repair hub in the 1960s... into a leading global and marine offshore hub with a thriving ecosystem. I think building projects like this, meeting timelines, or being ahead of the timelines, enhance our reputation," said Mr Tan.

The Seafox 5, with a contract value of US$220 million, is the first such vessel to be built in Singapore.

It can withstand harsh conditions and operate up to 65 metres deep.

It'll be used to install foundations for windmill equipment in the North Sea.

- CNA/cc


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