Singapore-based Seatrium has renewed its long-term favored customer contract (FCC) with GasLog LNG Services and Shell International Trading and Shipping Company (STASCO) to provide ship repairs, refurbishment and upgrading for their LNG carriers until 2029, with further renewal options.
The contract marks a collaborative partnership between Seatrium and these two leading maritime companies with whom the Singaporean group has established a long history of collaboration.
The contract involves the repairs, refurbishment and upgrading of the two entities’ combined fleet of 43 LNG carriers docking in South East Asia to Seatrium Repairs and Upgrades, a wholly-owned subsidiary of Seatrium.
It also supports joint planning, information and experience sharing, leveraging complementary resources of Seatrium to achieve sustainable targets in health, safety and environment (HSE), quality, cost efficiency and timely deliveries.
“We have enjoyed many years of partnership to refit the majority of our fleet here and trusted Seatrium in the conversion of our floating storage regasification unit (FSRU). 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 optimizing costs and leveraging our competitiveness,” said Kostas Karathanos, Chief Operating Officer of GasLog LNG Services.
“We are honored and delighted to have our exclusive partnership agreement renewed with both GasLog and STASCO. 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,” added Alvin Gan, Executive Vice President, Repairs and Upgrades, Seatrium.
Seatrium is the world’s leader for the repairs, upgrades and conversion of LNG carriers, holding an extensive track record of 11 FSRU conversions since 2007. FSRU conversions are highly complex processes that involve extensive modifications to the vessel’s structure, systems and equipment.
In addition, Seatrium converted the world’s first floating liquefied natural gas (FLNG), Golar Hili, in 2017.