Following the slump in oil prices, the market for these products declined substantially, although a more recent pick up in oil prices have helped both Keppel O&M as well as Sembmarine to announce a slew of new orders in recent months.
The proposed merger of Keppel Corp’s offshore and marine unit, as well as Sembcorp Marine, has drawn the attention of the Competition and Consumer Commission of Singapore, which is launching a consultation exercise to seek public’s views on this deal.
Both companies, for years, are in the similar business of building oil rigs and related vessels for the oil and gas industry.
