Seatrium secured S$100 Million in repairs and upgrades projects including carbon capture & storage retrofits and a Mega Yacht refurbishment

Seatrium Limited (Seatrium, or the Group) announced that it has secured multiple contracts for repairs and upgrades, with a total value of S$100 million from various long-standing partners and regular customers. These projects are set to be completed by Q1 2025, further strengthening Seatrium’s position as a market leader in vessel repairs, upgrades, and conversions.

The contracts encompass a range of complex projects, including Carbon Capture and Storage (CCS) retrofits, major repairs on yachts, cruise ships, LNG carriers, offshore vessels, tankers, as well as damage repairs.

Carbon Capture & Storage Retrofits (CCS)

Year to date, Seatrium has secured two CCS retrofit projects. Announced earlier this year, the first project is for Solvang ASA, Norway, a long-term Favoured Customer Contract (FCC) partner, involving retrofitting Solvang’s ethylene carrier, Clipper Eris, which is scheduled for November 2024. The second CCS retrofit is for MOL’s Nexus Victoria, scheduled to commence in December 2024. With a strong focus on maritime decarbonisation, Seatrium is well-positioned to provide customers with a range of low-carbon and cleaner energy solutions to support a sustainable future in the maritime industry.

Yacht and Cruise Repairs

Seatrium continues to bolster Singapore’s prominence as a premier hub for the upgrades and retrofits of maritime vessels. The Group has also secured a mega yacht retrofit project from the Middle East, in addition to the docking and repairs of Paspaley Pearl from Paspaley Pearling Company Pty Ltd and Le Jacques Cartier from Compagnie du Ponant.
 

Offshore Refits

Seatrium has secured contracts for three offshore refits, including one jack-up rig from COSL Protector Pte Ltd and one pipelay vessel from McDermott.
 

Tankers

Seatrium is conducting scheduled maintenance on two tankers, including one tanker from Crowley Alaska Tanker. Additionally, it has obtained a significant contract for steel renewal works on a vessel that was damaged in a collision and is currently under repair.
 

LNG Carriers and Other Projects

Seatrium is also undertaking repairs on five vessels, which include two LPG carriers, three container ships, and one roll-on/roll-off (roro) carrier. In addition, it has secured repair contracts for three LNG carriers and steelwork for a floating dock.

Seatrium is well-positioned to lead the way with innovative solutions, setting new standards in service excellence and positioning Singapore firmly at the forefront of the maritime sector. Leveraging strong collaboration with its partners, Seatrium is confident in its ability to successfully execute complex repairs and upgrade projects, contributing to enhanced vessel performance and a sustainable maritime future.

This article was originally published on Marine & Industrial Report newspaper Vol 46 No.6 Issue last December 31, 2024.