It covers the refit of a series of vessels over the next two years

 

OFFSHORE and marine specialist Seatrium : 5E2 +2.16% has secured a favoured customer contract agreement from Teekay Shipping (Australia).

 

Also known as Teekay Australia, the company provides vessel operation services under contracts with the Australian government.

 

Its first vessel under the contract agreement is scheduled for repairs in Seatrium&rsquo s Admiralty Yard in July 2024, with six more dockings planned over the next one year.

 

On Thursday (Jul 11), Seatrium said its latest contract agreement with Teekay Australia marks their first long-term strategic partnership agreement for the repairs and upgrades of a fleet of vessels under the Australia Defence Maritime Support Services Programme.

 

The contract agreement covers the refit of a series of vessels over the next two years.

 

Seatrium said this will require it to collaborate closely with Teekay Australia in planning, information sharing and leveraging mutual experience, to facilitate the execution of these projects.

 

Both partners also aim to jointly enhance service delivery, improve operational efficiency, and achieve high health, safety and environment standards to meet the specialised needs of vessel maintenance.

 

Alvin Gan, executive vice-president for repairs and upgrades at Seatrium, said: &ldquo 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.&rdquo

 

Teekay Australia head of operations Peter Iuliano added: &ldquo 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.&rdquo