Singapore's Marine & Offshore Sector Powering Output

Posted by George Backwell
Friday, April 25, 2014
File photo

Singapore's first-quarter growth could be revised higher after data on Friday showed unexpectedly strong industrial output in March, double the pace of market expectations, with output in marine and offshore engineering +45.1% y/y.

Manufacturing output in March surged 12.1 percent from a year earlier, far exceeding expectations in a Reuters poll for growth of 6.3 percent.

Output rose 6.1 percent on a month-on-month, seasonally adjusted basis, quicker than the median forecast of 1.5 percent.

The jump in manufacturing output was stronger than what was implied by the government's advance estimate of first-quarter gross domestic product (GDP) released

Marine And Offshore Engineering
Helping to drive the surprising strength in industrial production was a surge in output in the marine and offshore engineering segment, which jumped 45.1 percent year-on-year.

The rise came as work on several rig and ship building projects played a part in the jump in output from those sectors, the Singapore Economic Development Board said.

(By Masayuki Kitano)

 

Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Sri Lanka Port Project: China Merchants, CHEC Invest $601-M

Two of China's largest port operators and engineering firms have agreed to invest in a $601 million terminal in Sri Lanka's Hambantota port, part of a series of

Viking Supply Ships Sell PSV 'SBS Cirrus'

Rederi AB TransAtlantic subsidiary Viking Supply Ships says it has sold the 1985 built platform supply vessel SBS Cirrus. The vessel has been delivered to its new owners,

UK Chamber Stance Neutral on Scottish Independence

The UK Chamber of Shipping is taking a neutral position in the Scottish independence debate and has given both the Yes and Better Together sides space on its website

Shipbuilding

Scorpio Tankers Receive 7 More Newbuildings

Scorpio Tankers Inc. say it has recently taken delivery of seven newbuilding vessels as follows: STI Madison and STI Park, LR2 product tankers, were delivered

LHA 6 'America' Maiden Voyage Completes at San Diego

The Navy informs that the soon to-be-commissioned amphibious assault ship 'USS America' (LHA 6) arrived at its homeport of San Diego after completing its two-month

Austal Delivers Fourth JHSV to the US Navy

The U.S. Navy accepted delivery of USNS Fall River (JHSV 4) from Austal USA yesterday, a week shy of six months from the date they took delivery of JHSV 3. This

Offshore

Viking Supply Ships Sell PSV 'SBS Cirrus'

Rederi AB TransAtlantic subsidiary Viking Supply Ships says it has sold the 1985 built platform supply vessel SBS Cirrus. The vessel has been delivered to its new owners,

SBM Offshore Announces Thunder Hawk Tiebacks

SBM Offshore is pleased to announce it has signed a Production Handling Agreement (PHA) with Noble Energy to produce the Big Bend and Dantzler fields to the

Fifth Jackup Contract for Keppel from Gulf Drilling

Keppel FELS Limited, a wholly owned subsidiary of Keppel Offshore & Marine, has secured a contract from Gulf Drilling International Ltd. of Qatar to build a

Finance

Sri Lanka Port Project: China Merchants, CHEC Invest $601-M

Two of China's largest port operators and engineering firms have agreed to invest in a $601 million terminal in Sri Lanka's Hambantota port, part of a series of

Viking Supply Ships Sell PSV 'SBS Cirrus'

Rederi AB TransAtlantic subsidiary Viking Supply Ships says it has sold the 1985 built platform supply vessel SBS Cirrus. The vessel has been delivered to its new owners,

UK Chamber Stance Neutral on Scottish Independence

The UK Chamber of Shipping is taking a neutral position in the Scottish independence debate and has given both the Yes and Better Together sides space on its website

Offshore Energy

UK Chamber Stance Neutral on Scottish Independence

The UK Chamber of Shipping is taking a neutral position in the Scottish independence debate and has given both the Yes and Better Together sides space on its website

SBM Offshore Announces Thunder Hawk Tiebacks

SBM Offshore is pleased to announce it has signed a Production Handling Agreement (PHA) with Noble Energy to produce the Big Bend and Dantzler fields to the

Fifth Jackup Contract for Keppel from Gulf Drilling

Keppel FELS Limited, a wholly owned subsidiary of Keppel Offshore & Marine, has secured a contract from Gulf Drilling International Ltd. of Qatar to build a

Underwater Engineering

SBM Offshore Announces Thunder Hawk Tiebacks

SBM Offshore is pleased to announce it has signed a Production Handling Agreement (PHA) with Noble Energy to produce the Big Bend and Dantzler fields to the

Fifth Jackup Contract for Keppel from Gulf Drilling

Keppel FELS Limited, a wholly owned subsidiary of Keppel Offshore & Marine, has secured a contract from Gulf Drilling International Ltd. of Qatar to build a

Aker Wayfarer Wins 5-Yr Contract from Petrobras

Aker Solutions' subsidiary Aker Oilfield Services (AKOFS) has won a contract worth USD 465 million over five years from Petrobras to provide subsea intervention

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Pipelines Pod Propulsion Port Authority Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2738 sec (4 req/sec)