Strategic Partnership For LNG Carrier Refit And Upgrades

42

Hyundai LNG Shipping and Seatrium have signed a two-year contract to collaborate on the refit of a series of LNG carriers. This partnership, announced in Korea, emphasizes joint planning, information sharing, and leveraging each other’s expertise to enhance the LNG industry.

Commitment to Excellence and Innovation

Alvin Gan, Executive Vice President of Repairs and Upgrades at Seatrium, highlighted that the agreement showcases their leadership in LNG carrier repairs and their dedication to delivering top-quality and innovative solutions. The collaboration aims to set new standards in quality, health, safety, environment (QHSE), cost efficiency, and timely delivery of LNG refit maintenance.

Enhancing Operational Efficiency and Sustainability

JinChul Hong, Vice President of Hyundai LNG Shipping, emphasized the strategic importance of this partnership in boosting operational efficiency and maintaining high standards of quality and environmental sustainability. The first retrofit project, the Hyundai Utopia, is scheduled for May 2024 at Seatrium’s Admiralty Yard in Singapore, marking the beginning of this significant collaboration.

Expanding Presence in the LNG Market

Seatrium’s experience in LNG projects includes 11 FSRU conversions since 2007 and the conversion of the world’s first floating liquefaction vessel (FLNG) in 2017. Recently, Seatrium secured multi-billion dollar contracts worth S$350 million for vessel repairs and upgrades. Additionally, Seatrium is engaged in major projects with SBM Offshore and MOFDEC, reinforcing its strong presence in the expanding LNG market.

Did you subscribe to our daily Newsletter?

It’s Free! Click here to Subscribe

Source: Offshore Energy