Five Key Purchasing Strategies for New-Built Vessel

An overview of Shipbuilding industry in Singapore

Even though Singapore is a small tropical country, it has some world class shipbuilders which capable to build Naval Ships, Specialised vessels, Offshore support vessels and even Ice-class vessels!

Renowned shipbuilders in Singapore include Keppel Offshore & Marine, Sembcorp Marine and ST Marine.

Before we purchase any equipment or materials, it is very essential to adopt some of the key strategies to achieve effectiveness in Procurement process.

Strategy 1: Understand the importance of Marine Class & always adhere to the requirement

This is the first and foremost requirement in procurement.

Marine Classification society establishes and maintains technical standards for construction and operation of marine vessels and offshore structures.

In the absence of classification societies, there would be no benchmark or guideline standards for vessels and other constructions to adhere to.

The role of the classification society includes:

1) Coming up with a detailed notational system for the vessels and constructions to be graded

2) Ensuring that the vessels and constructions comply with this grading system by carrying out appropriate appraisals