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Ministry of Trade and Industry
1. Press releases

Support measures for Marine and Offshore Engineering (M and OE) Companies

25 November 2016

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​SUPPORT MEASURES FOR MARINE & OFFSHORE ENGINEERING (M&OE) COMPANIES

1.            The Ministry of Trade and Industry announced today the enhancement to IE Singapore’s Internationalisation Finance Scheme (IFS) and the re-introduction[1] of SPRING’s Bridging Loan (BL) for companies in the Marine and Offshore Engineering (M&OE) industry[2]. These measures will help to address the intensifying financing challenges faced by the M&OE industry in recent months, as it experiences a unique and prolonged slowdown.

Please click here  (opens in new tab)for the full press release.

Jointly issued by Ministry of Trade and Industry, IE Singapore and SPRING Singapore
25 November 2016

[1] SPRING’s Bridging Loan was first introduced in 2009.

[2] Companies with principal activities in the M&OE industry, such as shipyards, contractors to shipyards, offshore services providers, exploration & production companies, oil & gas equipment and services companies, and suppliers to oil & gas equipment and services companies, can apply for these schemes.