Seatrium Adds Heavy Lift Vessel to Project Schedule
Seatrium has signed a Letter of Intent (LOI) with Japan-based Penta-Ocean Construction (POC) to carry out early engineering work for a 5,000t fully-revolving heavy lift vessel project for the Japan wind market.
Subject to the final investment decision by POC, the full EPC contract award is expected in 1Q 2025.
POC owns a range of self-propelling trailing suction hopper and cutter suction dredgers for marine construction works as well as two turbine installation vessels equipped with a 800t and a 1,600t lifting capacity crane respectively. In Singapore, POC is a main contractor in various marine and land civil engineering, and building projects, including the development of Pasir Panjang Terminal Phase 3 and 4, the Tuas Mega Port, LTA projects and ION Orchard.
Seatrium has also released a business update for the third quarter ended September 30, 2024.
Seatrium delivered three projects to customers year-to-date, including the fourth newbuild jackup rig to Borr Drilling and a refurbished floating production unit to Salamanca FPS Infra. As at September 30, 2024, Seatrium’s net order book stood at S$24.4 billion, with deliveries stretching to 2031.
In September 2024, Seatrium, TenneT Offshore and GE Vernova celebrated the strike steel milestone and commenced fabrication works for the IJmuiden Ver Beta platform, a 2-gigawatt high-voltage direct current (HVDC) Offshore Converter Platform.
Seatrium also marked the installation of the 13,000-tonne Offshore Converter Platform at the Sofia Offshore Wind Farm in the United Kingdom, completing the heaviest lift in the offshore wind industry.
The Repairs & Upgrades division completed 192 repairs and upgrades projects year-to-date, including Asia Vision, the first in a series of four LNG fleet upgrades for Chevron.
Seatrium announced on October 22, 2024, that it was awarded S$100 million worth of projects, including a carbon capture & storage (CCS) retrofit for Mitsui O.S.K. Lines, three offshore refits for China Oilfield Services and McDermott, and a major retrofit and refurbishment of a mega yacht from the Middle East.
Seatrium and Nanyang Technological University (NTU) renewed their partnership and launched the Seatrium New Energy Laboratory. The partnership will focus on research in areas such as ammonia release mitigation, carbon capture, and marine electrification, while also offering workforce development programmes through NTU.
The outlook for the offshore and marine industry remains positive despite uncertainties in the macroeconomic environment, says Seatrium.