SINGAPORE (April 11): Keppel Offshore & Marine, a member of the Keppel group of companies, has entered into a term sheet agreement with Damen Shipyards Group for the sale of its shipyard, Keppel Verolme.

The proposed sale comes after a strategic review by Keppel O&M and is part of the company’s efforts to optimise its operations and rationalise its global network of yards.

Keppel O&M continues to see opportunities in the offshore oil and gas market in Europe and the North Sea, and will service these markets through its network of yards in Singapore and globally.

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