The Jeuns

‘Seatrium Secures Contract for LNG Carrier Maintenance and Enhancements’

May 21, 2024 | by The Jeuns

Seatrium Secures Strategic Partnership with Hyundai LNG Shipping

Seatrium, a leading provider of repairs and upgrades for maritime vessels, has recently signed a Favoured Customer Contract (FCC) with Hyundai LNG Shipping. This partnership marks Seatrium’s first long-term strategic agreement with a prominent Korean LNG company for the repair and upgrade of LNG carriers.

Under the terms of the contract, Seatrium will be responsible for the refit of a series of LNG carriers over the next two years. This collaboration will involve joint planning, information sharing, and experience exchange with Hyundai LNG Shipping. The first LNG carrier scheduled for retrofit under the FCC agreement is the Hyundai Utopia, which is set to undergo repairs at Seatrium’s Admiralty Yard in Singapore in May 2024.

Hyundai LNG Shipping is a key player in the transportation of Korean domestic LNG, handling approximately 5.23 million tons of LNG. The company currently operates eight LNG carriers, including six Moss-type LNG carriers and two Membrane-type LNG carriers.

This partnership between Seatrium and Hyundai LNG Shipping highlights the commitment of both companies to delivering high-quality repairs and upgrades for LNG carriers, further solidifying their presence in the maritime industry.

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