Seatrium of Singapore, the shipyard engineering company, aims to continue with its liquefied natural gas project successes with a large book of projects to work on through 2025.
Seatrium has secured a series of major contracts with an aggregate value of S$350 million (US$259M), to be completed by the end 2025, reinforcing its reputation as a market leader in vessel repairs, upgrades and conversions.
Seatrium, formerly called Sembcorp Marine Ltd and renamed as Seatrium following its merger with Keppel Offshore & Marine, is moving forward in the sector after big LNG delivery highlights in 2023.
These included the successful delivery in November 2023 of the Greek floating storage and regasification unit, the “FSRU Alexandroupolis”, now deployed offshore northeast Greece as part of a Balkans LNG supply hub.
African FLNG
Seatrium also in November last year handed over the LNG production unit for the BP-led FLNG project offshore Senegal and Mauritania in West Africa and also involving Dallas-based US company Kosmos Energy.
The group said that the diverse range of complex contracts secured by the Seatrium Repairs and Upgrades unit and currently being worked on or being prepared for include upgrades and conversions of FSRUs, life-extension and remediation works for floating production systems as well as repairs to conventional LNG carriers
“We thank our customers for their confidence in Seatrium’s capabilities and for entrusting us with these important projects,” said Alvin Gan, Executive Vice President of Seatrium Repairs and Upgrades.
“With our expertise and extensive track records, we are committed to deliver safe, timely and reliable projects to our customers,” he stated.
The backlog of FSRU conversions involves three LNG Carriers (LNGC) being converted to FSRUs for Turkish company Karpowership, with an option for a fourth project.
“The conversion work involves installing a regasification skid, as well as other supporting systems such as cargo, utility, spread-mooring, offloading, electrical, and automation systems,” Seatrium explained.
This work is scheduled to start in the second quarter of 2024 and involves the vessels “Karmol LNGT Powership Africa”, “Karmol LNGT Powership Asia” and “Karmol LNGT Powership Europe”.
“This work reinforces the group's position as a pioneer and market leader in the highly specialised FSRU conversion market,” Seatrium added.
LNG dry-dockings
A series of LNG carriers will also be dry-docking in Singapore under a “favoured customer contract” with Hyundai LNG Shipping of South Korea
Vessel life extension, upgrade and remediation and maintenance also involves customers like Japan’s MODEC with a Floating Production Storage and Offloading (FPSO) unit, the “Pyrenees Venture”, for Australian LNG operator and oil and gas player Woodside Energy.
“The vessel is expected to be re-deployed back into production off the coast of Western Australia,” Seatrium said.
The Singaporean company has also attracted business for its successful Cruise Ship Refurbishments yard.
“We have vessel retrofits for a series of 10 cruise vessels from our long-term partners, Carnival Corp. and Royal Caribbean Group, in 2024,” Seatrium added.
