Singapore-based shipbuilder Sembcorp Marine is proposing to change its name to Seatrium Limited.
The move follows the completion of the combination of the businesses of Sembcorp Marine Ltd and Keppel Offshore & Marine Ltd on 28 February 2023.
Following the completion of the proposed combination of Sembcorp Marine and the restructured Keppel O&M, Keppel O&M is now a wholly-owned subsidiary of Sembcorp Marine.
The proposed change of name is subject to shareholders’ approval and is expected to be finalized in the second half of 2023. However, the rebranding exercise will begin immediately after the completion of the merger.
The company said that Seatrium is a combination of two words – “sea” and “atrium”. It is a reflection of the business and its aspiration to be a premier global player providing innovative engineering solutions for the offshore, marine and energy industries.
“The enlarged entity will unite world-class talent and engineering capabilities to create transformative and sustainable offshore and energy solutions,” the company said.
Sembcorp Marine’s business is supported by four commercial units: Rigs & Floaters; Repairs & Upgrades; Offshore Platforms; and Specialised Shipbuilding.
At the beginning of this year, Sembcorp Marine named the first of a series of LNG hybrid tugs specially designed for domestic service in Singapore.
Sembcorp Marine plans to build a fleet of tugs to progressively replace the existing diesel-powered fleet operated by its subsidiary Jurong Marine Services (JMS) and a licensed operator of the Maritime and Port Authority of Singapore. The company commissioned the design and construction of the world’s first LNG hybrid tug in 2018.