Singaporean has issued a ten-year plan to establish a huge shipbuilding and shipping base. The first stage of the project is already under way, with an initial investment of US$530 million.
China Harbour Engineering won the bid to build four 1.6 million DWT drydocks for VLCC. The yard will cover 2.06 square-kilometres and is expected to be finished in 16 years.
Sembcorp Marine said the group's dock capacity would jump by 62 percent once the project is completed. The newly built docks will provide one-stop service to build VLCC, huge boxship, LNG carrier, passenger ship and drilling platform, as well as ship repairing and conversion.
Chairman Goh Geok Ling of Sembcorp Marine said about 70 percent of jack-up rigs, submerged drilling platforms and FPSOs are built or converted in Singapore.
