Busy times ahead for Singapore giant with multimillion-dollar string of vessel repairs and upgrades in the bag

Singapore-headquartered Seatrium, former Sembcorp Marine and Keppel Offshore & Marine, has picked up a batch of new repair and upgrade deals for offshore vessels, including drillships and jack-up rigs, alongside naval ships, ferries, liquefied natural gas (LNG) carriers, tankers as well as damage repair jobs. This work will be undertaken for a diverse range of companies.

The series of contracts for repairs and upgrades with an aggregate value of S$180 million (around $133.8 million), covering a range of complex assignments such as what are said to be major repairs on offshore vessels, naval ships, ferries, LNG carriers, tankers, and damage repair gigs, are all, except one, expected to be completed by the end of 2024.

Alvin Gan, Executive Vice President of Seatrium Repairs and Upgrades, commented: “We sincerely thank our trusted partners for their continued support in Seatrium’s capabilities and entrusting us with these significant projects. 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.”

Thanks to these deals, the Singapore firm has secured four offshore refits, entailing two jack-ups and two drillships, from the customers it describes as regulars, which are Velesto Energy, Zonda Drilling, and Seadrill. Seatrium’s other contract awards encompass the repair and maintenance work for a heavy lift pipelay vessel, Sapura 1200, from Sapura Energy.

In addition, the firm won the lifetime upgrade of Sea Challenger, a jack-up installation vessel from Japan Offshore Marine Company (JOM), a joint venture between Penta Ocean Construction and DEME. The fabrication works are underway to prepare the jack-up for retrofit in 2025.

Aside from these, the Singapore player has been tasked with naval works by the U.S. Military Sealift Command and three vessels with Teekay Shipping (Australia), managed under the Australia Defence Maritime Support Services Program (DMSSP). A contract for the docking and repairs of Kaitaki, a roll-on/roll-off ferry operated by Interislander of New Zealand, is also part of the new wave of assignments.

Furthermore, Seatrium is in charge of periodic maintenance and upgrades to two tankers from ConocoPhillips/Polar Tankers, one main engine, duel-fuel ready MAN lifecycle upgrade of a tanker from Alaska Tanker Company, along with a set of seven LNG vessels retrofits from its long-term customers.

Last but not least, the firm landed a deal to conduct work for a collision-damaged vessel, currently undergoing repairs, which is said to require a major steel renewal upgrade. These new assignments come months after the firm disclosed another wave of new multi-billion dollar contracts with an aggregate value of S$350 million (around $258.9 million) for vessel repairs, upgrades, and conversions.

Recently, Seatrium also got a hold of early engineering works for BP’s newbuild floating production unit (FPU), destined to be deployed at the oil major’s deepwater project in the U.S. Gulf of Mexico. Another recent deal was secured with Petrobras for the supply of two floating production, storage, and offloading (FPSO) units, which will work in the pre-salt Santos Basin off the coast of Brazil.

Additionally, the Singapore-based player also won a deal with SBM Offshore for the topside fabrication and integration of an FPSO for ExxonMobil’s oil development on the Stabroek block off the coast of Guyana, which was proceeded by a contract with MODEC for the installation and integration of topside modules on board another FPSO for one of ExxonMobil’s projects in Guyana.