What's Happening?
PaxOcean, part of the Kuok Maritime Group, has inaugurated a new S$200 million shipyard at 5 Jalan Samulun in Singapore's Jurong Industrial Estate. The facility spans 17.26 hectares and includes two large graving docks, a floating dock, and expanded quayside
capacity. It replaces PaxOcean's previous location at 33 Tuas Crescent, offering a larger footprint for handling complex maritime projects. The shipyard is designed to support high-value maritime and offshore assets, with integrated workshops for repairs, upgrades, and newbuilding projects. PaxOcean has also invested S$3.5 million in R&D, establishing a Centre of Excellence in Engineering R&D to focus on carbon capture, systems integration, and digital twin applications.
Why It's Important?
The opening of the new PaxOcean shipyard is a significant development for Singapore's maritime industry, reinforcing the country's position as a leading maritime hub. The facility's advanced capabilities and focus on sustainability align with global trends towards greener maritime operations. By supporting decarbonization efforts and Singapore's net-zero ambitions, the shipyard contributes to the industry's transition to more sustainable practices. The investment in R&D and the establishment of an Innovation Hub further enhance Singapore's ability to develop and deploy next-generation maritime solutions, potentially attracting more international business and fostering innovation in the sector.
