Singapore’s Seatrium secures USD 260 million in new repair and conversion deals
The FPSO Pyrenees Venture is currently at Seatrium’s Tuas Boulevard yard in Singapore (Source: MODEC)
Singapore ship repair and conversion giant Seatrium has announced that it has secured new repair and conversion contracts valued at USD 260 million (SGD 350 million). The new contracts are for work on a variety of ship types, including FSRUs, FPSs, LNG carriers and cruise ships, as well as some offshore and naval work. All contracts are scheduled to be completed by the end of 2025, with some projects already underway.
Seatrium is to convert three LNG carriers into FSRUs for Turkey’s Karpowership, with an option on a fourth vessel. The scope of work includes fitting a regasification skid to each vessel, as well as other supporting systems such as cargo, utility, spread mooring, offloading, electrical and automation systems. Work on the Turkish LNG carriers will start in the second quarter of 2024.
Seatrium will also undertake the maintenance and upgrade for Japan’s MODEC on Woodside Energy’s FPSO Pyrenees Venture. MODEC is the operator of the FPSO. Work on Pyrenees Venture has already started at Seatrium’s Tuas Boulevard yard with the vessel expected to be redelivered back into production off the coast of Western Australia.
In another project, the Singapore repairer will undertake remedial work for Chevron in Thailand, with this work also starting during the second quarter of this year.
Furthermore, Seatrium will carry out major repairs on the semi-submersible drilling rig Hakuryu 5. This 17,099gt 1977-built rig is owned by Japan Drilling, along with a series of LNG carrier drydockings for South Korea’s Hyundai LNG Shipping, under Seatrium’s Favoured Customer Contract, and some naval work.
Finally, Seatrium has reinforced its position as the region’s leading repairer of large cruise vessels with a contract for refitting of ten vessels – six from Carnival Corp and four from Royal Caribbean International.
The Carnival Corp vessels are:
- Diamond Princess and Coral Princess, from Princess Cruises
- Pacific Adventure, from P&O Cruises Australia
- Carnival Splendor and Carnival Panorama, from Carnival Cruise Line
- Noordam, from Holland America Line
The Royal Caribbean International ships are:
- Navigator of the Seas, Quantum of the Seas and Spectrum of the Seas, from Royal Caribbean, and
- Celebrity Millennium, from Celebrity Cruises
