Seapeak inks 16-year lifecycle agreement for 10 LNG carriers

Rising global demand for LNG means there is a growing need for fewer maintenance interventions for LNG carriers in operation. This is especially key as the vessels under this service agreement operate in a highly dynamic and fast-moving market environment, with ongoing challenges around predicting vessel schedules and voyage times. 

The new 16-year lifecycle agreement with Wärtsilä is an extension of an earlier lifecycle agreement signed with the same company for these vessels. The agreement, which is based on 72,000 running hours, is designed to increase the engines’ time between overhauls to 30,000 operating hours. The enhanced maintenance performance enabled by this agreement will result in a new level of support for the operator. 

Seapeak fleet manager Michael McNaul said, “We are focused on improving performance and optimising our fleet’s maintenance concept. This is why we have entered into this new agreement with Wärtsilä, as a trusted support provider. This agreement goes beyond what we had before and will take us into a new era of maintenance efficiency,” 

The work scope entails remote 24/7 operational support from Wärtsilä experts, dynamic maintenance planning, the use of Wärtsilä’s predictive maintenance service Expert Insight, scheduled spare parts, and field service for larger, more complex issues. Wärtsilä will also provide a full-time contract manager in Seapeak’s Glasgow office.

Seapeak (formerly Teekay LNG Partners) is among the largest independent owner-operators of liquefied gas vessels, with more than 45 vessels in its fleet.