Chris Ong, CEO of Seatrium, would know. When Ong became the CEO of the merged Sembcorp Marine (SGX:S51
) (SembMarine) and Keppel Offshore and Marine (Keppel O&M) in February 2023, he had his job cut out for him. The O&M industry had been in a prolonged downturn since 2015. SembMarine, too, had been reporting full-year losses since FY2018.
After a merger and review, the offshore group is ready to win more contracts — both in rigs and the emerging renewables business
In the cyclical offshore and marine (O&M) industry, staying afloat goes beyond navigating turbulent seas. To weather the ups and downs, a company must ride the winds and waves by prioritising resilience and sustainability.
