PaxOcean, a prominent shipyard group under the Kuok Maritime Group, has inaugurated a new shipyard at 5 Jalan Samulun in Singapore. The S$200m investment underscores the group’s commitment to enhancing Singapore’s status as a global leader in maritime engineering, innovation, and sustainability.
The newly opened facility, known as 5JS, represents a significant milestone for PaxOcean and the broader maritime industry in Singapore. This development is expected to contribute to the country’s maritime sector by providing advanced engineering solutions and promoting sustainable practices.
5JS replaces PaxOcean’s previous location at 33 Tuas Crescent. The new yard occupies a significantly larger footprint, giving PaxOcean the ability to handle more complex projects with faster turnaround.
PaxOcean has also committed more than S$3.5m in R&D investments over the next three years, supported by EDB’s Research and Innovation Scheme for Companies. A key investment will be PaxOcean’s new Centre of Excellence (COE) in Engineering R&D.
The opening of 5JS not only marks a significant investment but also reinforces Singapore’s reputation as a hub for maritime excellence. As the industry evolves, such initiatives are vital in maintaining the country’s competitive edge and fostering sustainable growth in the maritime sector.
