Singaporean offshore giant Seatrium (formerly Sembcorp Marine) announced on July 23 that it has secured a series of repairs and upgrades contracts with an aggregate value of S$180 million (US$ 133 million) from our partners. All projects, with the exception of one, will be completed by end 2024, further solidifying Seatrium’s position as a market leader in vessel repairs, upgrades and conversions.
The range of complex contracts include major repairs on offshore vessels, naval vessels, ferries, LNG carriers, tankers, as well as damage repair.
In terms of offshore vessels, Seatrium has signed contracts with Velesto Energy Berhad, Zonda Drilling AS and Seadrill Limited for a total of four offshore vessel conversions, including two jack-up drilling rigs and two drillships; the provision of maintenance services for the Sapura 1200, Sapura Energy Berhad’s heavy pipe- laying vessel; a contract for the lifetime upgrade of the jack-up installation vessel “Sea Challenger” with Japan Offshore Marine (JOM), a joint venture between Penta Ocean Construction and DEME, which is expected to commence in 2025.
In terms of naval vessels, Seatrium has entered into significant naval work with the U.S. Military Sealift Command; and a contract with Teekay Shipping (Australia) for three vessels under Australia’s Defense Maritime Support Services Program (DMSSP). Seatrium has announced on July 11 that it has entered into a Favored Customer Contract (FCC) with Teekay Shipping (Australia).
In terms of ferries, Seatrium continued to strengthen Singapore’s position as an important hub for leisure vessels at sea by signing a contract with Interislander of New Zealand for the berthing and maintenance of the Ro-Ro vessel “Kaitaki”.
In tankers and LNG carriers, Seatrium has signed a term maintenance and upgrade contract for two tankers with ConocoPhillips/Polar Tankers; has been awarded a MAN lifecycle upgrade contract for one main engine, dual-fuel tanker from Alaska Tanker; and a series of seven LNG carrier conversion contracts from its long-term partners.
Seatrium will also carry out major steel renewal work on a collision-damaged vessel under repair.
Seatrium said that this series of repair and upgrade contracts will further strengthen the company’s leading position in the ship repair, upgrade and conversion market.
