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.