Seatrium announced that it has secured a Favoured Customer Contract agreement from Teekay Shipping (Australia) (Teekay), 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). The contract, which includes the refit
of a series of vessels over the next two years, will see Seatrium collaborating closely with Teekay in joint planning, information sharing, and leveraging mutual experience to facilitate the
successful execution of these projects.

The strategic partnership agreement was signed by Mr Tony Armstrong, Managing Director of Teekay Australia, and Mr 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, achieve high Health, Safety and Environment (HSE)
standards to meet the specialised needs of vessel maintenance.
Mr Peter Iuliano, Head of Operations of Teekay Shipping Australia, said, “This strategic partnership marks a significant milestone for us. By collaborating with Seatrium, we aim to enhance our operational efficiency and instill the highest standards of quality, safety, and environmental sustainability in the maintenance of our specialised vessels. Our first vessel under the Favoured Customer Contract agreement scheduled for repairs in Seatrium’s
Admiralty Yard in Singapore is in July 2024, with six more dockings planned for next one year.

We look forward to a fruitful and successful partnership with Seatrium.
” Mr Alvin Gan, Executive Vice President, Repairs and Upgrades, Seatrium, said, “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. We would like to thank Teekay Australia for the trust and confidence in Seatrium, and we look forward to our successful collaboration.”

Seatrium is the world’s leader in repairs and upgrades, offering one-stop repair and upgrade solutions for all types of vessels and offshore structures. We develop strong relationships with
our clientele to offer vessel owners highly customised, proactive and holistic solutions for all vessel repairs and upgrades, including energy efficient solutions for a low carbon future.