NEWS
Marine and offshore industry contributed over $16b to economy last year
SINGAPORE - The marine and offshore industry remains strong due to rising energy demand in the world, said the Acting Minister for Manpower Tan Chuan-Jin.
He added that "despite the difficulties in Europe", there is increasing demand particularly from growing economies such as China.
In 2011, the sector contributed over $16 billion to Singapore's economy.
Also, the number of locals working in the sector grew to 18,000 in Dec 2011, an increase of about 30 per cent from Dec 2001.
Currently, nearly three in 10 locals in the sector are in professionals, managers and executives (PME) jobs, up from less than two in 10 a decade ago.
Mr Tan was speaking at a ceremony to name a vessel by Keppel FELS, an offshore subsidiary of Keppel Corp.
Seafox 5, the vessel, will be delivered next month - more than a month ahead of schedule.
Keppel has since received enquiries for similar vessels.
With a contract value of US$220 million, the Seafox 5 is the first such vessel to be built in Singapore.
Able to operate up to 65 meters deep and withstand harsh conditions, it will be used to install foundations for windmill equipment in the North Sea.
"Seafox 5... is a good example of what can be achieved by this strong emphasis on local innovation and R&D," said Mr Tan. He added that having such projects and being able to deliver them ahead of the timeline has enhanced Singpaore's attractiveness to businesses.
