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Saturday, May 25, 2024

Seatrium Scoops $259M Worth of Repairs and Upgrades Work

Maritime Activity Reports, Inc.

April 4, 2024

FPSO Pyrenees Venture (Credit: MODEC)

FPSO Pyrenees Venture (Credit: MODEC)

Singapore-based Seatrium has secured a series of major contracts for vessel repairs, upgrades and conversions, set for completion by the end of 2025.

With an aggregate value of S$350 million ($259 million), the contracts have reinforced Seatrium’s reputation as a one of the market leaders in vessel repairs, upgrades and conversions.

The diverse range of complex contracts secured by Seatrium Repairs and Upgrades include the upgrades and conversions of Floating Storage Regasification Units (FSRU), life-extension and remediation works for Floating Production Systems, LNG carriers’ repairs, cruise ships’ repairs and refurbishments, offshore and naval works.

“Each of these projects demand strong project management, engineering and strong Health, Safety, Security and Environment (HSSE) and quality standards. With our expertise and extensive track records, we are committed to deliver safe, timely and reliable projects to our customers,” said Alvin Gan, Executive Vice President of Seatrium Repairs and Upgrades.

Karpowership’s FSRU Conversion 

Seatrium has secured contracts to convert three LNG Carriers (LNGC) into Floating Storage and Regasification Units (FSRUs) for 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.

Vessel Life Extension, Upgrade and Remediation for MODEC and Chevron

Seatrium also got a contract with MODEC Management Services, operator of the asset for Woodside Energy for the maintenance and upgrade of a floating production storage and offloading system (FPSO), the FPSO Pyrenees Venture.

Scheduled to start in the second quarter of 2024, the vessel is expected to be re-deployed back into production off the coast of Western Australia.

In another project, Seatrium will be performing major remediation work for Chevron Thailand Exploration and Production, also scheduled to commence in the second quarter of 2024.

Cruise Ship Refurbishments for Carnival and Royal Caribbean

Seatrium has secured a series of 10 cruise vessels from its long-term partners, Carnival Corporation and Royal Caribbean Group, for vessel retrofits in 2024.

These include six cruise ships operating under Carnival’s various brands: Diamond Princess, Pacific Adventure, Carnival Splendor, Carnival Panaroma, Coral Princess and Noordam, as well as four cruise ships from the Royal Caribbean Group: Navigator of the Seas, Spectrum of the Sea, Quantum of the Seas and Celebrity Millennium.

Other Projects 

Seatrium has also been contracted for major repairs of the Hakuryu 5, a semi-submersible drilling rig from Japan Drilling, a series of LNGCs dry docking under the Favoured Customer Contract with Hyundai LNG Shipping of South Korea and a series of naval work for 2024.

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