Seatrium’s orderbook hits decade high as new contracts surge
Singapore shipyard group Seatrium has more than doubled its orderbook in the first half of the year with SGD13.4 billion ($10 billion) worth of new deals.
The newly announced projects are worth some SGD180 million ($133.79 million) and all bar one is due for completion in 2024.
In the tanker sector Seatrium was awarded periodic maintenance and upgrades to two tankers from ConocoPhillips /Polar Tankers Inc, and one main engine, duel-fuel ready MAN Lifecycle Upgrade of a tanker from Alaska Tanker Company. It will also carry out a series of retrofits on seven LNG carriers from customers with long-term arrangements with the yard group.
Seatrium is also carrying major steel renewal work for an undisclosed vessel that was involved in a collision.
In the offshore sector the yard group secured a series of four offshore refits, including two jack-ups and two drillships, from regular customers, Velesto Energy, Zonda Drilling and Seadrill.
Seatrium has also been awarded the lifetime upgrade of Sea Challenger, a jack-up installation vessel from Japan Offshore Marine Company Ltd (JOM), a joint venture between Penta Ocean Construction and DEME. The retrofit will be carried out in 2025.
The yard group will also carry out the docking and repairs of Kaitaki, a roll-on/roll-off ferry operated by Interislander of New Zealand, as well as naval works from the Military Sealift Command, USA, as well as three vessels from Teekay Shipping (Australia). Seatrium signed a long term contract with Teekay Shipping (Australia) recently.
“Each project requires experienced project management, engineering expertise, and rigorous adherence to Health, Safety, Security, and Environment (HSSE) standards. With our proven track record and commitment, we are dedicated to delivering quality projects that are safe, timely, and reliable,” said Alvin Gan, Executive Vice President of Seatrium Repairs and Upgrades.