* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Saturday, July 26, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Cote de Pablo reveals how Michael Weatherly used his soap opera roots to put her at ease in “NCIS” love scene – yahoo.com

    Cote de Pablo Reveals How Michael Weatherly’s Soap Opera Background Made Their “NCIS” Love Scene Easier

    City of Pelham announces entertainment district plans for former Oak Mountain Amphitheatre site – WVTM

    Pelham Unveils Exciting New Entertainment District Plans for Former Oak Mountain Amphitheatre Site

    Black Box Players presents ‘The Three Musketeers’ – CBS 19 News

    Experience the Adventure: Black Box Players Bring ‘The Three Musketeers’ to Life!

    AP Entertainment SummaryBrief at 1:51 p.m. EDT – Channel 3000

    Entertainment Highlights: Key Updates You Can’t Miss

    ‘Devil Wears Prada 2’ casts Anne Hathaway’s love interest replacing Adrian Grenier’s Nate – Entertainment Weekly

    Devil Wears Prada 2′ Casts New Love Interest for Anne Hathaway, Replacing Adrian Grenier’s Nate

    12 ‘Late Show’ Moments Proving Stephen Colbert Can’t Be Replaced – The Mountaineer

    12 Unforgettable ‘Late Show’ Moments That Prove Stephen Colbert Is Truly One of a Kind

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Validea’s Top Information Technology Stocks Based On Peter Lynch – 7/25/2025 – Nasdaq

    Validea’s Top Information Technology Stocks Based On Peter Lynch – 7/25/2025 – Nasdaq

    WhoFi: New surveillance technology can track people by how they disrupt Wi-Fi signals – Tech Xplore

    WhoFi: New surveillance technology can track people by how they disrupt Wi-Fi signals – Tech Xplore

    Google Cloud Announced as a Key Technology Partner for Odoo Connect 2025 in San Francisco – GlobeNewswire

    Google Cloud Announced as a Key Technology Partner for Odoo Connect 2025 in San Francisco – GlobeNewswire

    Behind the Screens: The Impact of Technology on Real Estate – TRREB

    Behind the Screens: How Technology is Transforming the Future of Real Estate

    Sustainserv and Palau Announce Technology Partnership to Leverage Innovative AI Platform to Advance Sustainability Reporting – Business Wire

    Sustainserv and Palau Team Up to Transform Sustainability Reporting with Breakthrough AI Technology

    Morgan Adamski Joins PwC in Newly Created Cyber, Data & Technology Risk Division – HSToday

    Morgan Adamski Leads the Charge in PwC’s Cutting-Edge Cyber, Data & Technology Risk Division

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Cote de Pablo reveals how Michael Weatherly used his soap opera roots to put her at ease in “NCIS” love scene – yahoo.com

    Cote de Pablo Reveals How Michael Weatherly’s Soap Opera Background Made Their “NCIS” Love Scene Easier

    City of Pelham announces entertainment district plans for former Oak Mountain Amphitheatre site – WVTM

    Pelham Unveils Exciting New Entertainment District Plans for Former Oak Mountain Amphitheatre Site

    Black Box Players presents ‘The Three Musketeers’ – CBS 19 News

    Experience the Adventure: Black Box Players Bring ‘The Three Musketeers’ to Life!

    AP Entertainment SummaryBrief at 1:51 p.m. EDT – Channel 3000

    Entertainment Highlights: Key Updates You Can’t Miss

    ‘Devil Wears Prada 2’ casts Anne Hathaway’s love interest replacing Adrian Grenier’s Nate – Entertainment Weekly

    Devil Wears Prada 2′ Casts New Love Interest for Anne Hathaway, Replacing Adrian Grenier’s Nate

    12 ‘Late Show’ Moments Proving Stephen Colbert Can’t Be Replaced – The Mountaineer

    12 Unforgettable ‘Late Show’ Moments That Prove Stephen Colbert Is Truly One of a Kind

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Validea’s Top Information Technology Stocks Based On Peter Lynch – 7/25/2025 – Nasdaq

    Validea’s Top Information Technology Stocks Based On Peter Lynch – 7/25/2025 – Nasdaq

    WhoFi: New surveillance technology can track people by how they disrupt Wi-Fi signals – Tech Xplore

    WhoFi: New surveillance technology can track people by how they disrupt Wi-Fi signals – Tech Xplore

    Google Cloud Announced as a Key Technology Partner for Odoo Connect 2025 in San Francisco – GlobeNewswire

    Google Cloud Announced as a Key Technology Partner for Odoo Connect 2025 in San Francisco – GlobeNewswire

    Behind the Screens: The Impact of Technology on Real Estate – TRREB

    Behind the Screens: How Technology is Transforming the Future of Real Estate

    Sustainserv and Palau Announce Technology Partnership to Leverage Innovative AI Platform to Advance Sustainability Reporting – Business Wire

    Sustainserv and Palau Team Up to Transform Sustainability Reporting with Breakthrough AI Technology

    Morgan Adamski Joins PwC in Newly Created Cyber, Data & Technology Risk Division – HSToday

    Morgan Adamski Leads the Charge in PwC’s Cutting-Edge Cyber, Data & Technology Risk Division

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home News

After delivering converted FPSO to MODEC, Seatrium gets its hands on refinancing of over $303 million

December 30, 2023
in News
After delivering converted FPSO to MODEC, Seatrium gets its hands on refinancing of over $303 million
Share on FacebookShare on Twitter

Home Fossil Energy After delivering converted FPSO to MODEC, Seatrium gets its hands on refinancing of over $303 million

Singapore-headquartered Seatrium Limited – formerly Sembcorp Marine Ltd before the merger with Keppel Offshore & Marine Limited – has secured early refinancing of S$400 million (more than $303.13 million) from DBS Bank Limited with an option to convert to a sustainability-linked loan. This came a day after the delivery of a converted floating production storage and offloading (FPSO) vessel to MODEC, which is destined to work on the Woodside-operated offshore oil development project in Senegal.

Delivery of FPSO Léopold Sédar Senghor, Senegal’s first FPSO, to MODEC and Woodside; Source: Seatrium

Seatrium delivered the FPSO Léopold Sédar Senghor to MODEC Offshore Production Systems on December 27, 2023, with no lost time incidents. The FPSO will work for Woodside on the Sangomar field development Phase 1, which is Senegal’s first offshore oil development. The Australian giant has been working on the Sangomar field development Phase 1, targeting approximately 230 million barrels of crude oil, since the project was sanctioned in January 2020.

As a result, Woodside awarded the contract for the supply of the FPSO, named after Senegal’s first president, Leopold Sédar Senghor, for the project to MODEC that same year. The vessel was converted from a very large crude carrier (VLCC) into a fit-for-purpose FPSO. The first oil was originally anticipated in late 2023. However, things changed in July 2023, and the first oil is now targeted for mid-2024 while the total project cost is expected to be $4.9 – 5.2 billion, an increase from the previous cost estimate of $4.6 billion, after a cost and schedule review.

Marlin Khiew, Executive Vice President, Oil & Gas (Americas) at Seatrium, commented: “We are pleased to support Woodside in contributing to Senegal’s oil and gas industry with a first FPSO for deployment in the Sangomar field, delivering sustainable long-term economic and social benefits for Senegal.

“FPSO Léopold Sédar Senghor reinforces Seatrium’s standing as the world leader in the conversion, modification, and completion of FPSOs, and attests to our strong execution capabilities and versatility in undertaking a variety of projects as well as providing value-added services. It also marks our 20th major project for MODEC, building on the strong value creation and partnership that we have forged over decades of collaboration.”

Furthermore, Seatrium’s scope of work covers topsides integration and support for the onshore commissioning of the FPSO. Upon its arrival at the Sangomar field, which is located 100 kilometers south of Dakar, Senegal’s capital, the FPSO will be moored in waters about 780 meters deep. This vessel is designed to produce 100,000 barrels of oil per day and will be able to store approximately 1.3 million barrels of crude oil.

Posted: 3 days ago

Shortly after the delivery of the FPSO Léopold Sédar Senghor, which is now on its way to West Africa, Seatrium disclosed that its wholly-owned subsidiary Seatrium Financial Services Pte. Ltd. (SFS) had refinanced an existing loan facility due in February 2024 with a S$400 million, three-year committed loan facility from DBS Bank Limited. This includes a sustainability-linked conversion option aligned to sustainability-linked loan principles, which will support the firm in achieving its ESG targets over time.

Paul Tan, Seatrium’s Acting Group Finance Director, remarked: “We are encouraged by the strong support of our banks to our ongoing efforts in pursuing sustainability in our business operations for long-term stakeholder value creation and driving energy transition in our industry.”

Moreover, Seatrium is committed to achieving its sustainability vision 2030 and supporting its clients in their decarbonization efforts through the construction, conversion, and retrofit of energy-efficient vessels. Due to this, the firm is working towards achieving 40% of its net order book from renewables and cleaner/green solutions and reducing its greenhouse gas emissions by 40% by 2030.

Lim Wee Seng, Group Head of Energy, Renewables and Infrastructure, Institutional Banking Group, DBS, stated: “The maritime industry is essential to the real economy, yet also one of several hard-to-abate sectors. Seatrium is a pioneer for its commitment to sustainability and to overcome the challenges associated with the energy transition.

“As a purpose-driven bank, DBS is proud to be a long-time partner in Seatrium’s sustainability journey, having provided the group’s first sustainability-linked loan in 2021, and to continue working with the sector to create a sustainable, low-carbon future.”

New $379 million revolving credit facility

The following day, on December 29, Seatrium’s subsidiary also secured a S$500 million (around $379.03 million) committed revolving credit loan facility (RCF) arranged by DBS Bank Limited, the Hongkong and Shanghai Banking Corporation Limited (HSBC) and Standard Chartered Bank (Singapore) Limited. This RCF will provide additional funding and liquidity to the company, increasing its financial flexibility.

Lim Jit Min, Managing Director and Head of Large Local Corporates, Global Banking, HSBC Singapore, said: “HSBC has a longstanding relationship with Seatrium. We are pleased to play a role in supporting the company’s growth aspirations. This new facility will enable Seatrium to expand its business further, especially as opportunities in the area of energy transition gather momentum.”

In addition to this latest RCF, Seatrium has secured green trade finance and sustainability-linked facilities exceeding S$2 billion (about $1.52 billion) to augment its sustainability efforts and green investments in the offshore renewables space.

The company’s FPSO business is also booming. Recently, the firm began work on another FPSO for MODEC, which is earmarked for Brazil. The Bacalhau FPSO hull recently arrived at Seatrium’s yard in Singapore and work onboard is underway.

The Singapore-based player also secured a contract from Offshore Frontier Solutions Pte Ltd, a MODEC Group company, to undertake topside modules fabrication work for the FPSO Raia in Brazil.

Posted: 26 days ago

This project will be executed in the BrasFELS shipyard located in Angra Dos Reis, Rio de Janeiro, Brazil, and is expected to start in the first quarter of 2024.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : OffshoreEnergy – https://www.offshore-energy.biz/after-delivering-converted-fpso-to-modec-seatrium-gets-its-hands-on-refinancing-of-over-303-million/

Tags: AfterDeliveringnews
Previous Post

Keel laid for Star of the Seas, Royal Caribbean’s next LNG-powered cruise ship

Next Post

IAPH President: Ports should not compete but collaborate to ensure infrastructure for green fuels

The economy is continuing to grow, Jack Ablin says – Fox Business

The Economy Keeps Expanding, Says Jack Ablin

July 26, 2025
Cote de Pablo reveals how Michael Weatherly used his soap opera roots to put her at ease in “NCIS” love scene – yahoo.com

Cote de Pablo Reveals How Michael Weatherly’s Soap Opera Background Made Their “NCIS” Love Scene Easier

July 26, 2025
Wellpoint-IBIS Health Clinical Trial – Mass Retirees Association

Wellpoint-IBIS Health Clinical Trial Empowers Mass Retirees for Better Care

July 26, 2025
Disgraced former US Rep. George Santos reports to NJ federal prison to serve 7-year fraud sentence – CNN

Disgraced Former Rep. George Santos Starts 7-Year Prison Sentence in New Jersey

July 26, 2025
Validea’s Top Information Technology Stocks Based On Peter Lynch – 7/25/2025 – Nasdaq

Validea’s Top Information Technology Stocks Based On Peter Lynch – 7/25/2025 – Nasdaq

July 25, 2025
From sports day to shelter: Thai family flees shelling from Cambodia – Reuters

From sports day to shelter: Thai family flees shelling from Cambodia – Reuters

July 25, 2025
When can we detect lianas from space? Toward a mechanistic understanding of liana-infested forest optics – ESA Journals

Unveiling Forest Canopies: How Satellite Technology Detects Lianas from Space

July 25, 2025
China launches world’s first robot that can run by itself 24/7 — watch it change its own batteries in unsettling new footage – Live Science

China launches world’s first robot that can run by itself 24/7 — watch it change its own batteries in unsettling new footage – Live Science

July 25, 2025
Enjoy Indoor Summer Fun at This Science Center in Rye, New Hampshire – Only In Your State

Discover Exciting Indoor Summer Adventures at This Science Center in Rye, New Hampshire

July 25, 2025
Superhero Lifestyle Collections – Trend Hunter

Discover the Ultimate Superhero Lifestyle Collections Transforming Everyday Living

July 25, 2025

Categories

Archives

July 2025
MTWTFSS
 123456
78910111213
14151617181920
21222324252627
28293031 
« Jun    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (738)
  • Economy (763)
  • Entertainment (21,644)
  • General (16,106)
  • Health (9,801)
  • Lifestyle (770)
  • News (22,149)
  • People (764)
  • Politics (772)
  • Science (15,977)
  • Sports (21,260)
  • Technology (15,745)
  • World (745)

Recent News

The economy is continuing to grow, Jack Ablin says – Fox Business

The Economy Keeps Expanding, Says Jack Ablin

July 26, 2025
Cote de Pablo reveals how Michael Weatherly used his soap opera roots to put her at ease in “NCIS” love scene – yahoo.com

Cote de Pablo Reveals How Michael Weatherly’s Soap Opera Background Made Their “NCIS” Love Scene Easier

July 26, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version