Seatrium Limited has secured a Favoured Customer Contract agreement from Teekay Shipping (Australia), marking its first long-term strategic partnership agreement with a leading ship management company for the repairs and upgrades of a fleet of vessels under its Australia Defence Maritime Support Services Program (DMSSP).
According to a July 11 announcement, the contract includes the refit of a series of vessels over the next two years.
Under the contract, the first vessel scheduled for repairs in Seatrium’s Admiralty Yard in Singapore is in July, with six more dockings planned over the “next one year”.
The strategic partnership agreement was signed by Tony Armstrong, managing director of Teekay Australia; and Alvin Gan, executive vice president, repairs and upgrades, Seatrium.
The two partners aim to leverage both companies’ expertise to enhance service delivery, improve operational efficiency and achieve high Health, Safety and Environment (HSE) standards to meet the specialised needs of vessel maintenance.
Teekay Australia provides vessel operation services for various vessels under the contracts with the Australian Government.
See also: UOB signs MOU with Shanghai Gold Exchange to connect China’s gold supply chain to Asean markets
It manages seven vessels under the DMSSP contract, and is also involved in the Australian Border Force Cutter named “Ocean Shield” and the Australian Maritime Safety Authority’s Emergency Towage Vessel “Coral Knight”.
Under these contracts Teekay is responsible to deliver all constituent support capabilities, such as vessel operations, engineering support, maintenance support, supply support, crewing and training and provide support services.
Teekay Australia also acted as Engineering, Procurement, And Construction (EPC) Contractor to Santos, to manage pre-docking, docking execution works and re-delivery of the FPSO Ningaloo Vision and are currently providing crewing services on this FPSO.
See also: Chinese builder Hopson Development in talks with Temasek unit Seatown Holdings for loan
Santos is the operator of the Ningaloo Vision, which operates on the Van Gogh field, in the Exmouth sub-basin, 53km north of Exmouth.
Teekay Australia has also provided vessel operations, including technical management and full crewing services, to prominent customers such as BHP, Shell and BP.
Peter Iuliano, head of operations of Teekay Shipping Australia, says the partnership marks a “significant milestone”. “By collaborating with Seatrium, we aim to enhance our operational efficiency and instil the highest standards of quality, safety and environmental sustainability in the maintenance of our specialised vessels.”
Seatrium’s Gan says: “We are delighted to be chosen as the strategic partner for Teekay Shipping Australia. This agreement not only highlights our expertise in specialised repairs for naval- and maritime security-related projects, but also demonstrates our dedication to delivering excellence and customised solutions to our partners.”
As at 9.14am, shares in Seatrium are trading 1 cent lower, or 0.72% down, at $1.38.
