Sembcorp Marine and PSA take top Asian awards

THE Singapore shipping and marine sector received a morale boost as Sembcorp Marine received the Best Shipyard of the Year award at the Lloyd's List Asia Awards 2014, while PSA was selected as the Port Operator of the Year.

Sembcorp Marine's Sembmarine Integrated Yard impressed judges on the panel, who favoured the yard's continued drive for safety, Lloyd's List reported.

At the event held at the Marina Bay Sands in Singapore on Thursday, judges also recognised PSA as the best port operator of the year. Judges recognised it for its innovative approach in continuously improving productivity. It was also hailed for its endurance and ability to maintain its position as the world's second busiest port despite continued intense competition from Chinese ports.

China's growing role in global shipping and marine was reflected as the China Export Import Bank was chosen as Newsmaker of the Year by the Lloyd's List Asia Awards judges, due to its role in infusing a new lease of life in the Chinese shipbuilding sector, as it helped fill the gap there created by the withdrawal of traditional lenders from the industry since the global financial crisis.