Seatrium Limited announced that it has secured a series of major contracts with an aggregate value of SGD 350 million, to be completed by end 2025, reinforcing its reputation as a market leader in vessel repairs,
upgrades and conversions. The diverse range of complex contracts secured by Seatrium Repairs and Upgrades include the upgrades and conversions of Floating Storage Regasification Units (FSRU), life-extension
and remediation works for Floating Production Systems, LNG carriers' repairs, cruise ships' repairs and refurbishments, offshore and naval works. FSRU Conversion: Seatrium has successfully secured contracts to convert three LNG Carriers (LNGC) into Floating Storage and Regasification Units (FSRUs) for Karpowership, with an option for a fourth project. The conversion work involves installing a regasification skid, as well as other
supporting systems such as cargo, utility, spread-mooring, offloading, electrical, and automation systems. Vessel life extension, upgrade and remediation: Seatrium has also secured a contract with MODEC Management Services Pte. Ltd, operator of the asset for Woodside Energy for the maintenance and upgrade of a Floating Production Storage & Offloading system (FPSO), the FPSO Pyrenees Venture. Scheduled to commence in Second Quarter 2024, the vessel is expected to be re-deployed back into production off the coast of Western Australia, Australia. Cruise Ship Refurbishments: Seatrium has secured a series of 10 cruise vessels from long-term partners, Carnival
Corporation and Royal Caribbean Group, for vessel retrofits in 2024. These include six cruise ships operating under Carnival's various brands: Diamond Princess, Pacific Adventure, Carnival Splendor, Carnival Panaroma, Coral Princess and Noordam as well as four cruise ships from the Royal Caribbean Group: Navigator of the Seas, Spectrum of the Sea, Quantum of the Seas and Celebrity Millennium. Other Projects: Seatrium has also secured major repairs of the Hakuryu 5, a semi-submersible drilling rig from Japan Drilling, a series of LNGCs dry docking under the Favoured Customer Contract with Hyundai LNG Shipping of South Korea and a series of naval work for 2024.