Singapore's Seatrium secures S$350mn in contracts

Singapore-based maritime solutions provider, Seatrium, has secured a series of contracts worth S$350mn ($259mn), the company announced on April 3. 

The contracts, scheduled for completion by the end of 2025, encompass a range of projects, including the conversion of three LNG carriers into floating storage and regasification units for Turkey’s Karpowership. This contract has an option for a fourth project. The work on the project is expected to start in Q2 2024. 

In addition to the FSRU projects, Seatrium also secured contracts for vessel life extension, upgrades, and remediation works. Notable among these contracts is its collaboration with MODEC to undertake the maintenance and upgrade of the Pyrenees Venture

Seatrium has secured contracts for the retrofitting of 10 luxury cruise vessels for Carnival Corporation and Royal Caribbean Group. 

In addition to these projects, Seatrium has also secured contracts for vessel life extension, upgrades, and remediation works, reaffirming its dedication to delivering comprehensive maritime solutions. These include repairs of the Hakuryu 5 semi-submersible drilling rig for Japan Drilling Co. and dry docking of LNG carriers under a favored customer contract with Hyundai LNG Shipping from South Korea.