Singapore Considers Measures to Help Struggling Marine Sector

Singapore’s government could help the city-state’s marine and offshore engineering (M&OE) sector trade and industry minister S. Iswaran said on Monday.

“The government is studying, in consultation with the M&OE industry and financial institutions, the need for measures for the sector,” he said.

“However, while the government will endeavour to render assistance where appropriate, it cannot be a panacea.”

Several companies in Singapore have been affected by a slowing economy and a long-term decline in the price of oil.