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Start a Ship Repair Company in Singapore

Start a Ship Repair Company in Singapore

The maritime industry is one of the pillars of Singapore’s economy as it dates back to the city-state’s first years after gaining its independence. Ever since, Singapore evolved into one of the best shipping centers in the world.

The Singapore maritime industry is made up of several branches among which transportation and shipbuilding and repair are the most important. Today, Singapore is one of the most important ship repair centers in the world thanks to the government’s programs which have enabled high-technology processes used to repair all types of vessels. The government has also invested a lot in the preparation of the local workforce concentrated in the maritime industry in Singapore.

Our Singapore company formation experts can offer information on how to set up a ship repair business in the city-state.

Registering a ship repair business in Singapore in 2024

Ships repair businesses are usually established as limited liability companies in Singapore. Before the registration process of the company is started, the enterpriser must first find a suitable location for the company. From this point of view, the company can be established in one of Singapore’s free zones or areas like Jurong which is home to Jurong Port.

There are no special requirements related to setting up a ship repair business in Singapore in 2024, however the business owner must hire specialized workforce in order to provide its services. It is also advisable for the company to register with the Association of Marine Industries in Singapore.

Our company registration agents in Singapore can help foreign enterpriser set up ship repair businesses in the city-state or Jurong Port.

Services offered by ship repair companies in Singapore

High-technology and innovation have made it available for ship repair companies in Singapore to offer a wide array of services to those interested. Among these services are:

  • electrical maintenance services;
  • mechanical services;
  • architectural services;
  • welding services;
  • boiler repair and maintenance services;
  • piping services;
  • cleaning services;
  • docking and harboring services.

The maritime industry in Singapore

Ship repair is only a portion of the maritime industry in Singapore, which has registered a significant growth in the past few years. Considering the city-state is a leading global hub port and international maritime centre, setting up a business in any of its connected sectors will definitely generate significant income.

In numbers:

  • Singapore ports welcome more than 130,000 ships every year;
  • in 2024, the maritime sector is estimated to have a market size valued at USD 4.75 billion and is projected to reach USD 6 billion by 2029;
  • the same sector is expected to record an annual growth of 4.79% by 2029.

For assistance in registering a ship repair company in the city-state, please feel free to contact our Singapore company formation consultants.