| Summary: | Shipyards are the characteristic institution of what is termed the 'marine industry.' The
marine industry in Singapore constitutes three major segments: shiprepair, shipbuilding
and rigbuilding (refer to Table 1). For shiprepair, the main segment of the marine
industry in Singapore, an important competitive advantage has been the country's strategic
location along the tanker route between the Middle East and the East Asian countries.
Further advantages for Singapore are deemed to be its low costs, high efficiency and labour
productivity. Singapore still provided for 60% of the Asian shiprepair market in 1995, but
new competitors to challenge Singapore's secure market position were anticipated from
emerging industries in countries such as China or Vietnam. However, necessary
infrastructure there is years away from creating real potential for a serious competitive
threat.
|
|---|