Keppel Corporation has entered into definitive agreements with Sembcorp Marine for the proposed merger of Keppel Offshore & Marine with Sembcorp Marine.
“Keppel O&M and Sembcorp Marine originally announced discussions around a merger in 2021.” “/ / 
Source: Sembcorp Marine
Keppel O&M and Sembcorp Marine originally announced discussions around a merger in 2021.
Discussions began on the move in June 2021, and it is expected to unlock synergies by bringing together the strong track records and capabilities of the two companies, putting the combined entity, Sembcorp Marine, in a strong position to expand and compete more effectively in its areas of focus amidst the energy transition.
Sembcorp Marine has close to 60 years of experience in the design and construction of rigs, floaters, offshore platforms and specialised vessels, as well as in the repair, upgrading and conversion of different ship types. In January, it received Approval in Principle from ABS for the conceptual design of an ammonia bunkering vessel.
Keppel O&M achieved several industry firsts in April with the successful completion of its maiden autonomous vessel project – the Maju 510 tug.
The merger is expected to further strengthen Singapore’s position as a maritime and offshore and marine hub.
It will allow Keppel to realise approximately S$9.42 billion in value and is aligned with Keppel’s Vision 2030 plans to simplify and focus the Group’s business on solutions for sustainable urbanisation. Keppel O&M will sell its legacy rigs to an asset company in which Keppel holds a 10% share.
