Seatrium appoints new finance chief

Lu replaces Adrian Teng, who has tendered his resignation to pursue his personal interests, according to a statement by Seatrium.

He will take over the CFO role on April 29.

Besides his new role, Lu will continue serving as Seatrium’s strategy EVP.

Prior to joining Seatrium, Lu was director of the portfolio development group at Temasek.

“I would like to thank Adrian for his invaluable contributions during his time with us,” Seatrium’s CEO Chris Ong said.

“On behalf of the group, I formally welcome Stephen to his new role. Stephen’s deep business and financial expertise will greatly support Seatrium’s next phase of growth and transformation,” he said.

Last year, Seatrium, previously known as Sembcorp Marine and renamed as Seatrium following its merger with Keppel Offshore & Marine, won several LNG carrier contracts.

This includes repair contracts for three LNG carriers revealed in October 2024.

Prior to that, Seatrium secured a contract from Greek shipping giant Angelicoussis Group to refit the latter’s LNG carriers, tankers, and bulk carriers.

The contract includes refitting 10 to 15 vessels per year, comprising LNG carriers, tankers, and bulk carriers.

Morever, Seatrium secured a contract in May 2024 from South Korea’s Hyundai LNG Shipping to repair and upgrade the latter’s LNG carriers.

In March the same year, Seatrium secured a contract from Türkiye’s Karpowership to convert three LNG carriers into floating storage and regasification units.

The conversion deal includes an option for a fourth LNG carrier.

Seatrium also renewed its long-term favored customer contract with units of Greece’s LNG shipping firm GasLog and UK-based LNG giant Shell.

Under the deal, Seatrium will provide ship repairs, refurbishment, and upgrading for their LNG carriers from 2024 to 2029, with an option for further renewal.