Seatrium secures contract from Hyundai LNG Shipping

Singapore’s Seatrium has secured a contract from South Korea’s Hyundai LNG Shipping to repair and upgrade the latter’s LNG carriers.

The group, previously known as Sembcorp Marine and renamed as Seatrium following its merger with Keppel Offshore & Marine, said in a statement the favored customer contract is its first long-term strategic partnership agreement with a “leading” Korean LNG company for the repairs and upgrades of its LNG carriers.

Seatrium said the contract includes the refit of a series of LNG carriers over the next two years, with responsibilities in joint planning, information, and experience sharing with Hyundai LNG Shipping.

It did not reveal the price tag of this deal.

The first LNG retrofit under the agreement scheduled for repairs in Seatrium’s Admiralty yard in Singapore is the 1994-built 125,182-cbm steam LNG carrier, Hyundai Utopia, in May 2024.

According to Hyundai LNG Shipping’s website, the company operates eight LNG carriers, and one LNG bunkering vessel.

Six of these are Moss-type LNG carriers and two are membrane-type LNG carriers with ME-Gi engines.

Hyundai LNG Shipping also has eight LNG carriers on order in South Korea, its website shows.

This is another contract win in the LNG carrier sector for Seatrium.

Seatrium recently 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.

Prior to this, Seatrium 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.

Most Popular

Jordan, Egypt seal FSRU deal

According to a statement by Jordan's energy ministry, the two countries signed on Sunday a cooperation agreement in Cairo...

PAE, Golar welcome new partner to Argentina FLNG project

Pampa said in a statement it will initially hold a 20 percent stake in Southern Energy (SESA), the entity...

QatarEnergy, Shell ink long-term deal to supply LNG to China

According to a statement by QatarEnergy on Monday, LNG deliveries under the SPA will start in January 2025. QatarEnergy did...

More News Like This

Seatrium bags new LNG carrier repair jobs

Seatrium, previously known as Sembcorp Marine and renamed as Seatrium following its merger with Keppel Offshore & Marine, revealed the new...

Malaysia’s Petronas adds new vessels to its fleet as LNG Canada launch nears

Malaysian energy giant Petronas has added three new liquefied natural gas (LNG) carriers to its fleet as it prepares...

Seatrium scores LNG carrier gig from Angelicoussis

Singapore’s Seatrium has secured a contract from Greek shipping giant Angelicoussis Group to refit the latter’s LNG carriers, tankers,...

Singapore’s FueLNG completes 200th STS bunkering operation

Singapore’s FueLNG, a joint venture consisting of Shell and Seatrium, has completed its 200th ship-to-ship (STS) LNG bunkering operation. FuelLNG...