News listings

energy-pedia general news

South Korea flagSouth Korea

Central & SE Asia / Australasia >>> South Korea

South Korea: Seatrium clinches Favoured Customer Contract for LNG carrier repairs and upgrades from Hyundai LNG Shipping


21 May 2024

Photo - see caption

Seatrium has successfully clinched a Favoured Customer Contract (FCC) with Hyundai LNG Shipping, marking its first long-term strategic partnership agreement with a leading Korean Liquefied Natural Gas (LNG) company for the repairs and upgrades of its LNG carriers. The contract includes the refit of a series of LNG carriers over the next two years, with responsibilities in joint planning, information and experience sharing with Hyundai LNG Shipping.

The strategic partnership agreement was signed in Korea by Mr JinChul Hong, Vice President, Hyundai LNG Shipping and Mr Alvin Gan, Executive Vice President, Repairs and Upgrades, Seatrium. The two companies will jointly work towards achieving sustainable targets in the areas of Quality, Health, Safety and Environment (QHSE), cost efficiency and timely deliveries, which are key performance indicators for high-quality LNG refit maintenance.

Mr JinChul Hong, Vice President, Hyundai LNG Shipping, said, 'This strategic partnership marks a significant milestone for us. By collaborating with Seatrium, we aim to enhance our operational efficiency and instill the highest standards of quality, safety, and environmental sustainability in the maintenance of our LNG carriers. Our first LNG retrofit under the FCC agreement scheduled for repairs in Seatrium’s Admiralty Yard in Singapore is the Hyundai Utopia in May 2024, and we look forward to a fruitful and successful partnership with Seatrium.'

Mr Alvin Gan, Executive Vice President, Repairs and Upgrades, Seatrium, said, 'We are honoured to partner with Hyundai LNG Shipping on this Favoured Customer Contract. This agreement not only underscores our leadership in LNG carrier repairs and upgrades but also reflects our commitment to delivering excellence and innovation in every project we undertake. We look forward to a successful collaboration that will benefit both parties and contribute to the advancement of the LNG industry.'

Seatrium is the world’s leader in repairs and upgrades of LNG carriers, including holding an extensive track record of 11 FSRU conversions since 2007. In addition, Seatrium converted the world’s first Floating Liquefaction vessel (FLNG) in 2017, the Golar Hilli, which is operating with a 100% uptime in Cameroon, Africa. Leveraging its deep expertise in offshore and marine engineering, the Group has established a strong presence in the expanding LNG market.

Photo - see caption
Seatrium clinches Favoured Customer Contract for LNG carrier repairs and upgrades from Hyundai LNG Shipping

(From left) Mr Alvin Gan, Executive Vice President, Repairs and Upgrades, Seatrium and Mr JinChul Hong, Vice President, Hyundai LNG Shipping

Original announcement link

Source: Seatrium





Bookmark and Share


A global information service for upstream oil and gas opportunities - divestitures, farmins and farmouts and licensing rounds.


Subscriber Only Deals

Current Deals

Current Upstream Deals: 195

Completed Deals

Completed Upstream Deals: 6640

Company Profiles

Current Company Profiles: 2932

Corporate Activity

Current Corporate Activity articles: 4197

Companies Looking

Current number of articles: 466

Company Sales

Current Company Sales articles:1674

Geostudies

Current Geostudies articles: 1003

How to subscribe

energy-pedia Jobs

RSS Feed Widget
See all jobs...


energy-pedia Databank

The energy-pedia databank contains links to information on the world financial and energy markets, including share prices, oil and gas prices and the global stock exchanges. Read more...



energy-pedia Glossary

A list of commonly used terms in the oil and gas industry. Read more...

Subscribe

Subscribe to the FREE
energy-pedia Daily Newsletter
Subscribe

Rose & Assocs
energy365
OPC
Telos NRG
Borchwix
Bayphase
Syntillica
Union Jack Oil 149
Merlin
About energy-pedia

energy-pedia news is a FREE news service written and edited by E and P professionals for E and P professionals.

We don't just report the news, we give you the technical background as well, with additional information derived from our unique energy-pedia opportunities service.
Contact us

energy365 Ltd

238 High Street
London Colney
St Albans
UNITED KINGDOM

Tel: +44(0)1727 822675

Email: info@energy-pedia.com