Retrofit and repair projects worth $76 million land on Seatrium’s docket

Singapore-headquartered provider of offshore, marine, and energy solutions Seatrium has secured several contracts for repairs and upgrades from multiple partners across several industry segments.

The projects covering carbon capture and storage (CCS) retrofits, repairs on yachts, cruise ships, liquefied natural gas (LNG) carriers, offshore vessels, and tankers, as well as damage repairs, are set to be finished by Q1 2025. Their combined value is S$100 million, or approximately $76 million. 

Alvin Gan, Executive Vice President of Seatrium Repairs and Upgrades, said: “Each project we undertake requires experienced project management, engineering expertise, and strict adherence to Health, Safety, Security, and Environment (HSSE) standards. With our proven track record and unwavering commitment, we are dedicated to delivering high quality projects that are safe, timely, and reliable.”

Two CCS retrofit projects have been secured. The deal for the first project with Solvang, described as a long-term favored customer contract (FCC) partner by the Singaporean player, was secured in February. It entails retrofitting Solvang’s ethylene carrier, Clipper Eris, scheduled for November 2024. 

The second CCS job was secured for a vessel by Mitsui O.S.K. Lines (MOL) – LR1 product tanker Nexus Victoria – slated to start in December 2024. The vessel will also feature Value Maritime’s Filtree system, an onboard CO2 capture system with a SOx scrubber.

Furthermore, contracts were secured for three offshore refits, including one jack-up rig from COSL Prospector and one pipelay vessel from McDermott. Scheduled maintenance will be conducted on two tankers, including one from Crowley Alaska Tankers. Additionally, a “significant” contract was secured for steel renewal works on an unnamed vessel that is undergoing repair due to damage induced by a collision.

The Singaporean player will also repair five vessels, including two liquefied petroleum gas (LPG) carriers, three container ships, and one roll-on/roll-off (ro-ro) carrier. In addition, repair work will be performed on three LNG carriers and steelwork for a floating dock.

In September, Seatrium hired KBR to develop topside facilities for two floating production storage and offloading (FPSO) units destined for Petrobras’ Atapu and Sepia fields in the Santos Basin.

In August, the Singaporean firm delivered Vali, the fourth out of five jack-up rigs it is building for Borr Drilling, one year ahead of the planned delivery date.