PaxOcean and GTT Sign Technical Service Agreement


PaxOcean has signed a technical service agreement with French LNG containment specialist GTT. The agreement will enable PaxOcean to expand its repair scope by providing membrane tank maintenance and servicing of liquefied natural gas (LNG) carriers to be repaired in PaxOcean Batam, Indonesia.

Prior to the signing, GTT performed two audits to ensure that the yard could meet the necessary requirements for the highest standard of safety and quality control for a good dry-docking operation and PaxOcean’s proven capability of undertaking the repairs and conversion of a membrane type LNG carrier. The shipyard will also benefit from a dedicated training of its personnel and advisory services for the preparation of each maintenance operation.

“This agreement is part of our continuous efforts in providing one-stop solutions with full-fledged support which are tailored to meet our customers' business requirements,” said Mr. Tan Thai Yong, MD & CEO of PaxOcean Holdings Pte Ltd.

“We are delighted to support our partner PaxOcean in the repair and maintenance of LNG carriers equipped with GTT membrane technology. Our teams will provide the training best suited to GTT's security and excellence requirements, thus contributing to the added value of PaxOcean's services for its customers in Asia-Pacific” said Mr Philippe Berterottière, Chairman and CEO of GTT Group.

Facilities at PaxOcean Batam yards include five floating docks, with the largest dock measuring 300 meters by 59 meters that can accommodate vessels up to Suezmax category, Capesize Bulk Carriers, and LNG Carriers up to 145,000cu.m capacity. Amongst the workshops is a cryogenic complex fitted to handle repairs of LNG carrier cargo-handling equipment and fittings.

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About PaxOcean

A subsidiary of Kuok Singapore Limited, PaxOcean owns and operates five shipyards located in Singapore, China and Indonesia. First established in 2007 in Singapore, PaxOcean offers a wide range of services covering integrated solutions, newbuilding, module fabrication, green recycling, repairs and conversion of conventional and renewable energy assets.

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About Kuok (Singapore) Limited (KSL) Maritime Group

KSL Maritime offers an integrated suite of services to partners to grow their businesses successfully and sustainably. Its maritime companies of PACC Offshore Services Holdings (POSH), Pacific Carriers Limited (PCL), PaxOcean Group and KSL Maritime Ventures (KMV) serve the maritime value chain from offshore oil, gas and renewables support services, shipping and transportation, vessel maintenance and newbuilding to supporting start-up investments. Anchored in bringing leading-edge, innovative solutions and services to the industry, the Group is committed to sustainability and uplifting the entire maritime value chain.

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About GTT

GTT (Gaztransport & Technigaz) is an engineering company expert in containment systems with cryogenic membranes used to transport and store liquefied gas, in particular LNG (Liquefied Natural Gas). For over 50 years, GTT has been maintaining reliable relationships with all stakeholders of the gas industry (shipyards, shipowners, gas companies, terminal operators, classification societies). The company designs and provides technologies which combine operational efficiency and safety, to equip LNG carriers, floating terminals, and multi-gas carriers. GTT also develops solutions dedicated to land storage and to the use of LNG as fuel for the vessel propulsion, as well as a full range of services.

GTT is listed on Euronext Paris, Compartment A (ISIN FR0011726835 Euronext Paris: GTT) and is notably included in SBF 120 and MSCI Small Cap indices.

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