Seatrium

History

Keppel Offshore & Marine (2001–2023)

In 2001, Keppel privatised its offshore and marine business which resulted in the integration of Keppel Shipyard together with Keppel FELS and Keppel Singmarine to form the Keppel Offshore & Marine group in 2002.

In 2015, Keppel Shipyard got a secured floating Production storage and Offloading conversion project worth of $89 million. The project includes repair, upgrade and modification. FPSO Conversion has already started and it is going to be completed in third quarter of 2016.

They were the recipients of the Business China Enterprise Award in 2015, for their contributions to China-Singapore business relations.

Sembcorp Marine (2000–2023)

Sembcorp Marine was formed from Jurong Shipyard in 2000.

In October 2017, Sembcorp Marine won a $490m contract for the construction of a new floating production storage and offloading hull and living quarters with Statoil Petroleum AS. In November of the same year, it announced a collaboration with DNV GL, A*Star's Singapore Institute of Manufacturing Technology and the National Additive Manufacturing Innovation Cluster to develop drones, additive manufacturing and digital twin technologies.

On 5 September 2018, Sembcorp Marine acquired the intellectual property of Sevan Marine, specialized marine engineering and design house. Its acquisition consisted of interests and titles to all of Sevan Marine ASA’S intellectual property, and 95% of shares of HiLoad LNG AS, for a cash consideration of $39 million. In April 2019, Semborp Marine was given the Offshore & Marine Engineering Award in the Singapore International Maritime Centre Awards 2019, and in May of the same year, Sembcorp Marine revealed The Sleipnir, the world's largest crane vessel (which cost around US$1.5 billion).

In March 2020, it was announced that Sembcorp, the then-parent company of Sembcorp Marine, was replacing their CEO,{{cite web |access-date=24 September 2020 |archive-url=https://web.archive.org/web/20091105022411/http://www.chiefexecutive.net/ME2/Audiences/dirmod.asp?sid=&nm=&type=Publishing&mod=Publications%3A%3AArticle&mid=8F3A7027421841978F18BE895F87F791&AudID=F242408EE36A4B18AABCEB1289960A07&tier=4&id=1CC0EBF0E6C5419C8DAEE732DE6F5A64 |access-date=24 September 2020 |archive-date=2009-11-05 |access-date=24 September 2020 |access-date=24 September 2020 |access-date=24 September 2020

On 8 June 2020, it was reported that Temasek stepped in to support Sembcorp Marine's $1.5 billion rights issue Sembcorp Marine has also been involved in corruption probes in Brazil. The charges were in connection with certain drilling rig construction contracts entered into by Sembcorp Marine's subsidiaries in Brazil back in 2012.

Seatrium (2023–present)

On 28 February 2023, Sembcorp Marine completed its acquisition of Keppel Corporation's Offshore & Marine division for $3.34 billion. Subsequently, on 27 April 2023, Sembcorp Marine's shareholders approved the company's name change to Seatrium.

References

References

1. "STEERING AHEAD - ANNUAL REPORT 2024". Seatrium.
2. "MAKING WAVES - ANNUAL REPORT 2023". Seatrium.
3. "Key Capabilities - Sembcorp Marine Ltd".
4. "Our Global Network Platform - Sembcorp Marine Ltd".
5. (10 August 2015). "Keppel wins contracts worth $89m".
6. "Home".
7. "Corporate milestones".
8. "Sembcorp Marine secures $490m contract - Singapore Business Review".
9. (9 November 2017). "sembmarine in tie up to develop use of drones 3d printing digital twin - Straits Times Ltd".
10. "sembcorp marine completes sevan marine deal - offshoreenergytoday".
11. "World Largest Crane Vessel - Channel Newsasia Ltd".
12. (14 October 2020). "SPH shares dip below $1 after company posts first net loss".
13. (9 June 2020). "Temasek steps in to support loss-making Sembcorp Marine in its plan to raise S$2.1 billion".
14. (1 March 2023). "Done deal!: Sembcorp Marine acquires Keppel Offshore & Marine for $3.34 billion".
15. (27 April 2023). "Sembcorp Marine is no more, long live Seatrium!".