Sembcorp Marine's new Tuas yard predicted to double repair capacity

More ships will also be rerouted.

CIMB analysts visited phase 1 of SMM’s new integrated yard in Tuas, WestSingapore today.

The yard started operations in Aug 2013. The 73ha yard is equipped with four very large crude carrier (VLCC) dry docks, with total capacity of 1.55m DWT and quay space of more than 3.8km.

Here's more from CIMB's site visit:

The new yard will nearly double SMM’s current repair, conversion and offshore capacity of 1.9m DWT. The estimated current utilisation rate of the yard is about 70%, with all four dry docks occupied with repair jobs.

More ships are expected to be progressively rerouted to the yard from Pulau Samulun (Jurong Shipyard’s main repair facility).

Phase 2 of SMM’s integrated yard (34.5ha) will take another four to five years to develop. Total capex for phase 1 was about S$900m, which is higher than the original target of S$750m as certain building works (such as the dormitory) were brought forward.

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