Singapore’s Seatrium has secured a contract from Greek shipping giant Angelicoussis Group to refit the latter’s LNG carriers, tankers, and bulk carriers.
Seatrium, 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 for two years with one-year renewal option.
According to Seatrium, the contract includes the refit of 10 to 15 vessels per year comprising LNG carriers, tankers, and bulk carriers.
It did not reveal the price tag of this deal.
Angelicoussis, led by Maria Angelicoussis, is one of the largest shipping groups in Greece and it owns one of the world’s largest privately-owned fleets with 141 ships operating under Maran Gas, Maran Tankers, and Maran Dry.
According to its website, Maran Gas has 45 LNG carriers in its fleet with 13 ships on order.
CEO Maria Angelicoussis and deputy CEO Sveinung Stohle spoke with LNG Prime in November last year about the group’s plans on LNG fleet expansion.
Seatrium previously delivered over 70 successful retrofits to Angelicoussis, including 20 LNG carriers and a series of scrubber installations for the group’s tanker fleet.
The new partnership will involve close cooperation in joint planning, information exchange, and experience sharing with Angelicoussis, facilitating a “seamless and efficient” retrofitting process, Seatrium said.
Prior to this deal, Seatrium secured a contract in May from South Korea’s Hyundai LNG Shipping to repair and upgrade the latter’s LNG carriers.
In March, 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.
Ealrier this year, 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.