Swiber expands its Singapore shipyard

Mr. Francis Wong, Group Chief Executive Officer and President of Swiber Mr. Francis Wong, Group Chief Executive Officer and President of Swiber

FEBRUARY 12, 2014 — Singapore's Swiber Holdings Limited is to expand its Singapore shipyard. Its wholly owned Newcruz Shipbuilding & Engineering Pte subsidiary has acquired a second shipyard lease from Jurong Town Corporation on a 1.2 hectare site at Tuas Crescent that has a 95 m waterfront and is next to its existing shipyard.

Swiber says the expansion is needed to meet to meet increased demands in shipbuilding, repair and conversion services and will form a comprehensive marine support base for its offshore construction activities. Both properties have leases that run until 2021

Mr. Francis Wong, Group Chief Executive Officer and President of Swiber, said, "This additional lease secured by Newcruz will provide the necessary infrastructure to meet the increased demands for in‐house auxiliary shipyard services; achieving seamless vertical integration for the Group and creating competitive advantage for Swiber in the offshore oil and gas industry."

The existing shipyard holds a two‐story main building and a single‐story workshop plus facilities that include a slipway, wharf and working yard.

The combination of two yards will create a total area of over approximately 3.6 hectares and strategic waterfront land of 220 m, extending the repair and conversion facilities for Swiber's fleet and creating an enhanced offshore fabrication capacity for structures of up to 300 tons.