Singapore’s competition watchdog seeks feedback on marina operator SUTL’s commitments in Keppel Bay deal
A price cap on berthing fees and discount for charter operators are among remedies offered to address concerns
The Competition and Consumer Commission of Singapore (CCS) is seeking public input on commitments offered by marina operator SUTL Enterprise regarding its planned S$40 million acquisition of Marina at Keppel Bay. The competition regulator aims to determine if the proposed remedies adequately address competition concerns. The consultation will remain open until November 26th, 2025.
Early feedback during the review indicated the deal could raise competition issues, as SUTL and its subsidiary operate marinas in close proximity, potentially making them direct competitors. Charter operators may be most affected by the proposed changes. Under the commitments, annual wet berthing rates will be capped at the consumer price index (CPI) plus three percentage points.
Charter operators will also receive a 1% credit on wet berthing charges. SUTL has pledged not to terminate or refuse to renew berthing contracts without proper grounds and will continue to allocate berths to customers on a first-come, first-served basis. Both marinas will uphold minimum standards for berthing assistance, security, utilities, fuel supply, and other services.
The commitments will be in effect for five years from the date of CCS's favorable decision and seven years for charter operators' rates, berth allocation, and contract terms. An independent monitoring trustee may be appointed, subject to CCS approval, to oversee compliance. SUTL has the option to exceed the CPI cap if faced with force majeure or regulatory changes that significantly increase operating costs, but only with CCS's written permission.
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