SINGAPORE
Shipyard group Seatrium has secured a contract with TMS Cardiff Gas for the repairs and upgrades of its LNG vessels, the company announces in a press release.
The contract, a so-called favored customer contract, includes the refitting of 17 LNG carriers in Singapore.
“The selection of Seatrium as our partner in Singapore aligns with our strategy to grow our LNG business in Asia. We have worked successfully with Seatrium on three LNG refits and we see Seatrium as the right long-term partner,” says Alexandros Politis-Kalenteris, deputy chief operating officer, TMS Cardiff Gas.
In a recent interview with WPO, Seatrium CEO Chris Ong said that he sees a lot of business opportunities emerging from the green transition.
The expectation is that 40% of Seatrium’s orders in 2030 can be labelled green, including LNG newbuilds and refits.
Seatrium’s orderbook backlog has at least tripled from over USD 4.5bn just before the announcement of the merger between Keppel and Sembcorp in 2023.
In commercial contracts, ”most favoured customer” clauses normally require that the supplier offers ”a good service” on prices and terms which are no less favorable than what is offered to other customers.
