KEPPEL Shipyard will move out of Keppel Harbour and operate solely from its Tuas yard from April 1 to cut rising operating costs.
'Shipyards are now constantly battling with rising costs in order to stay competitive,' Loh Wing-siew, managing director of Keppel Corp, said.
'Consolidating our operations at one yard will help us to increase cost efficiency, particularly in the allocation of resources and manpower. This way, we will be able to keep ourselves lean and trim.' Operating from one location would enable tighter co-ordination of facilities and provide better work flow, resulting in better controls on quality and safety, he said.
The 52-hectare Keppel Tuas Yard, with its two dry-docks of 150,000 deadweight tonne (dwt) and 330,000 dwt capacity, was planning redevelopment, he said.
Most of the project will comprise a residential development, plus office space, retail units and a marina.
Work would begin after approvals were obtained, the company said.
The project would be carried out in phases, the timing of which would depend on market conditions, it said.
Construction of the 360,000 dwt dock, measuring 350 metres by 66 metres, was on schedule and due to be ready by the middle of this year, it said.
Keppel Shipyard was awarded ISO 9002 certification after being audited by Lloyd's Register Quality Assurance.
Meanwhile, Nelson Yeo, president of Subic Shipyard and Engineering in the Philippines, would be appointed executive director of Keppel Shipyard from March 1, the company said.
In his two years at the helm of the yard, Mr Yeo is credited with returning Subic Shipyard to profitability.
Mr Yeo would replace Tong Chong-heong, who would become managing director of Keppel Cairncross Shipyard in Brisbane, the company said.
Toh Ko-lin would be appointed president of Subic Shipyard and Engineering, relinquishing his position as executive director of Singmarine Industries.
Mr Loh said: 'Keppel has the practice of rotating its senior executives between various positions within the group.
'Overseas stints provide our senior executives the opportunity to broaden their perspectives and outlook.' To expand overseas businesses, Keppel saw the importance of developing senior executives with international exposure and expertise, he said.
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