Seatrium Group has clinched a favoured customer contract with Hyundai LNG Shipping
This marks the shipbuilder’s first long-term strategic partnership agreement with a South Korean LNG company for the repairs and upgrades of its LNG carriers, which was signed in South Korea.
Seatrium is one of the leading yards for the repair and upgrade of LNG carriers including, most notably, the conversion of Golar Hilli, the world’s first floating liquefaction vessel (FLNG) in 2017, which operates in Cameroon, Africa. Over the next two years, the Singapore shipbuilder will undertake refits on a series of Hyundai LNG carriers with responsibilities in joint planning, information and experience sharing with Hyundai LNG Shipping.
The two companies will jointly work towards achieving sustainable targets in the areas of quality, health, safety and environment, cost efficiency and timely deliveries, which Seatrium called ‘key performance indicators’ for LNG refit maintenance.
Hyundai LNG Shipping vice president Jin Chul Hong 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.”
The first vessel to head to Seatrium’s Admiralty yard under the agreement is Hyundai Utopia, which is due to begin a retrofit this month.
Seatrium executive vice president, repairs and upgrades, Alvin Gan 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.”
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