Seatrium has won a series of repair and upgrade contracts worth $170 million, announced the offshore and marine (O&M) group on Oct 28.
The latest wins comprise mainly major cruise, leisure and naval projects, as well as contracts for offshore repairs and maintenance including a drillship, pipelayer vessels from McDermott and decommissioning works on a floating production storage and offloading (FPSO) vessel.
The contracts are slated for completion by the first quarter of 2026.
“These contracts reflect the confidence that leading global vessel owners and operators place in Seatrium’s ability to deliver complex projects with competence, safety and timeliness,” says Alvin Gan, executive vice president for Seatrium’s repairs and upgrades business. “Each project will leverage our deep engineering expertise, operational excellence, and unwavering commitment to safety and sustainability.”
Shares in Seatrium closed 2 cents higher or 0.92% up at $2.20 on Oct 27.
