LNG

Seatrium of Singapore, a leading global company in repairing, upgrading or refitting LNG carriers, has signed another favoured customer contract - this time with Teekay Shipping in Australia.

Seatrium said that this latest Teekay agreement was its first with a leading ship management company for the repairs and upgrades of a fleet of vessels under its Australia Defence Maritime Support Services Program (DMSSP).

The contract, which includes the refit of a series of vessels over the next two years, will see Seatrium collaborating closely with Teekay in joint planning, information sharing, and leveraging mutual experience to facilitate the successful execution of these projects.

The Singaporean company earlier in July 2024 signed an FCC with the Angelicoussis Group, the largest shipping line in Greece and one of the world’s largest privately-owned fleets with 141 ships operating under Maran Gas, Maran Tankers and Maran Dry.

Seatrium said that two-year contract with a one-year renewal option included the refit of 10 to 15 vessels per year comprising LNG carriers, tankers and bulk carriers.

Korean accord

This followed a previous FCC in May 2024 with a South Korean shipping company, Hyundai LNG Shipping, marking the first long-term strategic partnership agreement with a Korean LNG transporter for the repairs and upgrades of its LNG carriers.

That contract included the refit of a series of LNG carriers over the next two years.

The Teekay Australia accord was signed between Tony Armstrong, Managing Director of Teekay Australia, and Alvin Gan, Executive Vice President, Repairs and Upgrades at Seatrium.

Seatrium is attracting global shipping and energy companies because of its offering of one-stop repair and upgrade solutions for all types of vessels and offshore structures.

We develop strong relationships with our clientele to offer vessel owners highly customised and proactive solutions for all vessel repairs and upgrades, including energy efficiency.

Strategic partnership

Peter Iuliano, Head of Operations of Teekay Shipping Australia, said this strategic partnership marked a significant move for the company.

“By collaborating with Seatrium, we aim to enhance our operational efficiency and instil the highest standards of quality, safety, and environmental sustainability in the maintenance of our specialised vessels,” explained Iuliano

“Our first vessel under the Favoured Customer Contract agreement scheduled for repairs in Seatrium’s Admiralty Yard in Singapore is in July 2024, with six more dockings planned. We look forward to a fruitful and successful partnership with Seatrium,” he declared.

Seatrium executive Gan said that his company was delighted to be chosen as the strategic partner for Teekay’s Australian operations.

“This agreement not only highlights our expertise in specialised repairs for naval and maritime security related projects, but also demonstrates our dedication to delivering excellence and customised solutions to our partners,” Gan stated.

Seatrium of Singapore, a leading global company in repairing, upgrading or refitting LNG carriers, has signed a favoured customer contract with the Angelicoussis Group, the largest shipping line in Greece and one of the world’s largest privately-owned fleets with 141 ships operating under Maran Gas, Maran Tankers and Maran Dry.

Daewoo Shipbuilding and Marine Engineering (DSME) of South Korea said it was awarded two combined orders worth 1.84 trillion Korean won ($1.53 billion) to build two LNG carriers for Greek company Maran Gas Maritime under the Angelicoussis Shipping Group and six containerships for another European commercial line.

Nakilat, one of the world’s largest LNG shipping operators, has partnered with the American Bureau of Shipping, the US classification society, to develop a decarbonization strategy.

Daewoo Shipbuilding and Marine Engineering said it received an order to build two liquefied natural gas carriers for Maran Gas of Greece as South Korean shipbuilding undergoes a revival led by LNG vessels and LNG-powered ships.

DSME said the LNG vessel orders were valued at 502 billion-won ($420 million) and were the latest in a growing stream of newbuilds.

The company said it would deliver the LNG carriers to Maran Gas Maritime, an affiliate of Greece's Angelicoussis Shipping Group, by November 2025.

DSME said the vessels would have capacity of 174,000 cubic metres capacity and GTT No. 96 GW membrane containment systems.

The company received another order earlier in December 2021 for four newbuilds on behalf of the Japanese shipowner Mitsui OSK Lines.

DSME added that its 2021 order book amounted to $10.86Bln and exceeded its target of $7.7Bln.

Korea Shipbuilding and Offshore Engineering Co. (KSOE), the world's biggest shipbuilder by order backlog, said it had a stellar 2021.

KSOE, whose affiliates include Hyundai Heavy Industries, Hyundai Mipo Dockyard Co. and Hyundai Samho Heavy Industries, said it has 1.67 trillion won ($1.39Bln) worth of ship orders this week.

The orders included one for a Europe-based shipper to build six 15,000 20-foot equivalent unit (TEU) LNG-powered containerships.

“The container carriers will be gradually delivered to the client from the first half of 2024,” said KSOE.

In other deals, the company said it would build one LNG carrier for an Asian ship owner with the delivery scheduled in the second half of 2024.

It will also build three feeder container ships for an Oceanian client, with the delivery set in the second half of 2023.

KSOE said it aimed to win $17.5Bln worth of orders in 2022, higher than last year's target of $14.9Bln. In 2021,the company achieved $22.8Bln worth of orders.

Jan 3 (LNGJ) - Peru LNG exported two late-December LNG cargoes to South Korea at the Japan-Korea Marker price for North Asian spot shipments, quoted at $37.265 per million British thermal units, according to national energy company PeruPetro.

   The cargoes were lifted from the Pampa Melchorita plant on the Peruvian Pacific Coast by the 159,800 cubic metres capacity carrier “Maran Gas Efessos” and the 173,400 cubic metres capacity vessel “Maran Gas Amphipolis”, the company added.

French liquefied natural gas storage technology firm Gaztranzport and Technigaz (GTT) and its South Korean shipyard partner Daewoo Shipbuilding and Marine Engineering received an order for the tank design of two new LNG carriers from Greek shipowner Maran Gas Maritime.

Nov 23 (LNGJ) - The 159,800 cubic metres capacity carrier “Maran Gas Efessos” is scheduled to deliver a cargo of Egyptian LNG on November 29 to the UK Dragon import terminal at the Port of Milford Haven in Wales, according to the Port Authority. The shipment comes from the Idku export plant, operated by Royal Dutch Shell, and located east of the port of Alexandria.

April 20 (LNGJ) - The 173,605 cubic metres capacity LNG carrier “Maran Gas Vergina” was unloading a US cargo at the Chinese port of Tianjin. This is the first US LNG shipment received by the Chinese since March 2019 when trade started to be hindered by tit-for-tat tariff measures by the US and China over trade disagreements.

   The Greek-owned tanker, charted by UK major BP, lifted its cargo at the Freeport export plant on Quintana Island in Texas on March 21 and was discharging the LNG on April 20 at Tianjin, according to shipping data.

Jan 22 (LNGJ) - The 161,870 cubic metres capacity carrier “Maran Gas Apollonia” will become the latest carrier to discharge an LNG cargo at a UK terminal when it unloads a shipment on January 28 at the South Hook facility in Milford Haven. The cargo comes from the Cheniere Energy-owned Sabine Pass plant in Louisiana. The cargoes are arriving amid continued low winter season prices. The UK National Balancing Point price was last at around $3.65 per million British thermal units and the Dutch Title Transfer Facility (TTF) price was at the equivalent of $3.50 per MMBtu.