Seatrium has renewed a long-term contract with GasLog LNG Services and STASCO for LNG carrier services.
Under the contract, which extends till 2029, the Singapore-based company will provide ship repairs, refurbishment and upgrading services for STASCO and GasLog’s fleet of LNG carriers.
Go deeper with GlobalData
The renewed contract includes an option for further renewal.
The contract involves maintenance for a combined fleet of 43 LNG carriers, which will be serviced by Seatrium Repairs and Upgrades, a wholly owned subsidiary of Seatrium.
Seatrium said the agreement not only focuses on the physical aspects of ship repair but also emphasises collaborative efforts such as joint planning, information exchange, and the pursuit of sustainable targets in health, safety and environment, quality, cost efficiency and timely delivery of services.
See Also:
GasLog LNG Services COO Kostas Karathanos said: ”We are delighted to renew our favoured customer agreement for another five years. The recent tender we jointly ran with STASCO indicates that Seatrium remains a competitive shipyard offering high-quality services. This aligns with our strategic direction of optimising costs and leveraging our competitiveness.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataSeatrium executive vice-president of repairs and upgrades Alvin Gan said: “Partnering with world-class vessel owners increases our market share of LNG repairs and upgrades and enhances our capabilities as a world-class shipyard group.
“The selection of Seatrium as the LNG refit partner in Singapore is a major boost to Singapore’s status as a major global hub.”
This latest contract renewal follows Seatrium’s recent agreement with Greek shipping company TMS Cardiff Gas, which includes the refit of 17 LNG carriers in Singapore.
Earlier in the year, Shell awarded a contract for the construction of the Sparta semi-submersible floating production unit to Seatrium.
