Kuok Singapore, Samsung Heavy Industries partner to explore maritime, energy projects

Companies to explore shipbuilding, marine engineering, and logistics projects.

Kuok (Singapore) Limited (KSL) has signed a Strategic Cooperation Agreement (SCA) with Samsung Heavy Industries Co., Ltd. (SHI) to explore collaboration in the maritime, offshore, energy infrastructure, logistics and related sectors.

The agreement combines SHI's engineering, technology and offshore project development expertise with KSL's maritime, logistics and infrastructure capabilities.

The companies will evaluate opportunities in offshore and energy infrastructure, shipbuilding, marine engineering and offshore logistics.

KSL Chairman Kuok Khoon Ean said the agreement builds on the strong relationship between the two companies. “This agreement provides the platform for us to deepen the partnership, combine our complementary strengths and pursue opportunities that can deliver long-term value for customers, stakeholders and our respective businesses."

SHI Vice Chairman and Chief Executive Officer Sung-an Choi said the company aims to leverage its shipbuilding and offshore engineering expertise. “Through this cooperation, we look forward to exploring opportunities where our engineering and technology capabilities can be combined with the Kuok Group's strong regional presence, maritime ecosystem and execution platforms to support customers and projects across the region."

KSL's maritime operations are managed by Kuok Maritime Group (KMG), whose businesses include offshore maritime and subsea support services, shipping, transportation, shipbuilding and engineering.

Its subsidiary, PaxOcean, provides shipbuilding, conversion, repair and offshore engineering services and is expected to support potential projects under the partnership.