Karpowership taps Seatrium to convert LNG carrier trio to FSRUs

Singapore’s Seatrium has secured a contract from Turkey’s Karpowership to convert three LNG carriers into floating storage and regasification units.

Seatrium said in a statement on Wednesday that the conversion deal includes an option for a fourth LNG carrier.

The group, previously known as Sembcorp Marine and renamed as Seatrium following its merger with Keppel Offshore & Marine, revealed a series of major contracts with an aggregate value of S$350 million ($259 million), to be completed by end 2025.

Besides the Karpowership deal, Seatrium won a series of LNGCs dry docking under the favored customer contract with South Korea’s Hyundai LNG Shipping, life-extension and remediation work for floating production systems, cruise ships’ repairs and refurbishments, offshore and naval work.

Karpowership taps Seatrium to convert LNG carrier trio to FSRUs
Image: Karpowership

FSRU conversion work to start in Q2

Seatrium did not reveal the names or other details of the Karpowership vessels.

Brokers said last year that Karpowership, part of Karadeniz, bought four steam NWS LNG carriers.

The vessels in question have a capacity of some 127,000 cbm while they were built between 1989 and 1994.

They are Northwest Sanderling, Northwest Sandpiper, Northwest Snipe, and Northwest Stormpetrel.

Seatrium said that the conversion work involves installing a regasification skid, as well as other supporting systems such as cargo, utility, spread-mooring, offloading, electrical, and automation systems.

Scheduled to start in the second quarter of this year, this “milestone contracts exemplifies a succession of FSRU conversions executed by Seatrium for Karpowership,” it said.

Also, it builds upon a track record of successful deliveries, including Karmol LNGT Powership Africa, Karmol LNGT Powership Asia, and Karmol LNGT Powership Europe, the firm said.

KARMOL is a joint venture of Karpowership and Japan’s MOL.

The company’s first FSRU Karmol LNGT Powership Africa departed Singapore in March 2021.

Most Popular

Excelerate buys GasLog LNG carrier

US FSRU player Excelerate Energy has purchased a 2007-built steam liquefied natural gas (LNG) carrier from GasLog Partners, a part of Greek LNG shipping firm GasLog, according to brokers.

Bangladesh receives boost from World Bank to buy LNG supplies

The World Bank has approved a project aimed at helping Bangladesh's state-owned company Petrobangla to secure liquefied natural gas (LNG) supplies.

Kimmeridge’s Commonwealth LNG gets FERC approval

Kimmeridge's Commonwealth LNG has received the Federal Energy Regulatory Commission’s final order upholding authorization for its planned 9.5 mtpa LNG export project near Cameron, Louisiana.

More News Like This

KARMOL’s FSRU named in Singapore

KARMOL, a joint venture of Turkiye's Karpowership and Japan's MOL, has named its latest floating storage and regasification unit at Seatrium's yard in Singapore.

Singapore’s FueLNG wraps up 400th STS bunkering operation

Singapore’s FueLNG, a joint venture consisting of Shell and Seatrium, has completed its 400th ship-to-ship (STS) LNG bunkering operation. FuelLNG delivered LNG to BYD Shenzen, which is said to be the world’s largest LNG-fueled car carrier.

Seatrium scores FSRU conversion job from Hoegh Evi

Singapore’s Seatrium has secured a contract from Norway's Hoegh Evi to convert the latter's LNG carrier Hoegh Gandria into a floating storage and regasification unit.

Seatrium appoints new finance chief

Singapore's Seatrium has appointed Stephen Lu, the group’s executive VP for strategy, as its new chief financial officer.