ABS and Seatrium Sign Green Partnership Agreement

Seatrium workers cut steel for an offshore wind project, 2023 (Seatrium)
Seatrium workers cut steel for an offshore wind project, 2023 (Seatrium)

Published May 8, 2024 11:43 AM by The Maritime Executive

Seatrium, the successor of Singaporean shipbuilders Keppel Offshore and Sembmarine, has been working hard to cement its place as a leader in low-carbon technology and "smart" digitalized systems. As of last year, renewables and reduced-carbon solutions accounted for nearly 40 percent of the group’s overall order book. 

ABS has played a role in Seatrium's expansion from offshore oil and gas infrastructure into offshore renewables, and it has agreed to sign on a formal partnership agreement on accelerating decarbonization and the energy transition. 

"ABS and Seatrium have a remarkable history of pioneering the technological frontiers in the marine and offshore industries," said ABS CEO Christopher J. Wiernicki in a statement. "We are well placed to safely deliver the rapid technological advance our industry needs."

Seatrium's headline green projects include transformer platforms for TenneT's mega-scale offshore wind power transmission project off the coast of the Netherlands; the transmission platform for the Empire Wind project off New York; a dedicated "Ocean Lab" for research on "smart" ocean systems and infrastructure, including floating offshore wind and new green fuel technologies; and a contract for the "world's first" full scale carbon capture retrofit. 

Like all shipbuilders, Seatrium leverages its partnerships for getting these projects across the finish line. It holds a $750 million green trade finance facility from OCBC Bank and a $300 million green revolving credit facility from UOB, specifically for low-carbon projects. Its engineering and technical partnerships - like the newly-formalized agreement with ABS - bring additional capability. 

“Seatrium is making significant strides in our visionary approach to engineering a sustainable, low-carbon energy future. This progress is achievable through pivotal industry collaborations with organizations like ABS," said Chris Ong, Seatrium's CEO. "We are more than just partners; we are natural allies united by a shared mission."