Singapore’s ST Engineering has taken advantage of the crash in the offshore markets to snap up a shipyard facility in the US.
It paid $25m to acquire the assets of World Marine of Mississippi LLC (WMM), which sits adjacent to its VT Halter Marine facility in Pascagoula.
WMM comprises a purpose-built facility of 94 acres for heavy marine fabrication, and offshore oil and gas rig upgrades, repairs and conversions.
