Seatrium secures two-year refit contract with Angelicoussis Group

Singapore-based Seatrium has secured a two-year contract from Greece’s Angelicoussis Group for the refit of 10 to 15 vessels per year, comprising LNG carriers, tankers, and bulk carriers, the company announced on July 5.

Angelicoussis Group is the largest shipping group in Greece and one of the world’s largest privately-owned fleets, operating 141 ships under Maran Gas, Maran Tankers, and Maran Dry.

In May, Seatrium secured a contract with Hyundai LNG Shipping to manage the repairs and upgrades of its LNG carriers over the next two years. This agreement entails the refit of a series of LNG carriers, with joint planning and information sharing between Seatrium and Hyundai LNG Shipping.

In April, Seatrium signed a series of contracts worth S$350mn ($259mn). The contracts, scheduled for completion by the end of 2025, encompass a range of projects, including the conversion of three LNG carriers into FSRUs for Turkey’s Karpowership. This contract has an option for a fourth project.

Seatrium has established itself as a leader in the repair and upgrade of LNG carriers, with a notable track record that includes 11 FSRU (floating storage and regasification unit) conversions since 2007. Additionally, Seatrium converted the world's first floating liquefaction vessel (FLNG), the Golar Hilli, in 2017, which is currently operating in Cameroon, Africa.