PPL Yards Not for Sale: SembMarine

Maritime Activity Reports, Inc.

December 9, 2016

Photo:  PPL Shipyard Pte Ltd

Photo: PPL Shipyard Pte Ltd

 Sembcorp Marine has denied the rumours that it was mulling the sale of all or part of subsidiary PPL Shipyard, according to a report in the Business Times.

 
"Neither our rig-building subsidiary PPL Shipyard nor any of the yards from which PPL is operating are up for sale," says the company.
 
SembMarine is understood to have sought valuation for one or more of PPL Shipyard's waterfront assets, sparking market talk over its plans for its rig-building subsidiary.
 
Asset valuations are typically done when owners are evaluating financial options, including divestment.
 
A SembMarine spokesman, responding to an enquiry from The Business Times, denied that the yard group is putting up PPL Shipyard or any of the rig-builder's yards for sale.
 
But IHS Markit's principal researcher Ang Dingli said some rationalisation of SembMarine's waterfront assets needs to take place, given that the group's yard operations will eventually be integrated at the new Tuas Boulevard facility, which is undergoing phased development.
 
Maritime Reporter Magazine Cover Aug 2019 - The Shipyard Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the maritime industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News