Offshore staff

(Asia-Pacific) - Singapore shipyards' $10 billion investment is paying off handsomely as they take 80% of global jackup orders, says the city state's Minister of State for Finance and Transport, Lim Hwee Hua.

The benefits of having made extensive investments in manpower training and offshore research and development is helping the industry ride on the present offshore oil and gas boom.

The yards have attracted offshore industry mobile units, aggregating more than 600,000 gross tons, totalling 32 jackups, nine semisubmersibles, and one semi-tender to be delivered from this year through 2009,

She says the industry has transformed from a tugboat and barge-builder in the 1960s, to repair yards for very large crude carriers in the 1970s, to latest-generation rig and FPSO manufacturers today.

Speaking at the christening of a jackup rig at Singapore's PPL Shipyard, she also highlighted the Singapore government's support and initiatives to make Singapore a one-stop "build, register, and operate" center for the specialized rigs.

The government amended the Merchant Shipping Act at the end of 2004 to allow shipowners in the oil and offshore business to register offshore industry mobile units under the Singapore Registry of Ships.

Maritime R&D was one of the key drivers for the continuing growth of Singapore's maritime industry, and she stressed the need to deepen and broaden Singapore's expertise and technological know-how to enhance productivity and competitiveness.

She underlined the role of the $61.16 million Maritime Innovation and Technology (MINT ) fund, established in 2003, to support the industry's R&D efforts.

PPL Shipyard is one of the MINT beneficiaries and was committed to driving R&D projects in collaboration with local research institutions.

PPL Shipyard recently began a joint project with the Institute of High Performance Computing to develop a new generation of jackup rig system designs using 3D simulation technologies.

03/19/06