SeaQuest performance in 2019

1st Jan 2020

Year 2019 has presented encouraging signs of improvement for the shipbuilding market and SeaQuest was able to promptly benefit from this scenario harvesting various new valuable orders, thus elevating the number of ships in the New Building Portfolio and the global reputation of the Company, extending its services and competency to new frontiers, including the Natural Gas sector.

The first half of 2019 was primarily focused on various technical negotiations, ECO-ship design appraisals and feasibility studies for old and new Clients, for which SeaQuest confidently dedicated diversified resources and energies, resulting in the confirmation of various fresh orders signed in the second half of the year.

Among the meaningful achievements, the Company's break-through into the LNG new building market deserves a special mentioning, with the 30,000 m3 LNG Carrier new building project sealed for New Fortress Energy at Hyundai HMD for which SeaQuest is providing its turn-key services, encompassing Technical Negotiations, Plan Approval, Makers Selection and Construction Supervision.

Within the Natural Gas segment, SeaQuest continues the extensive cooperation established since 2018 with Global Energy Ventures, for their Compressed Natural Gas carrier new building project which is progressing and expected to materialize in 2020.

South Korean and Chinese builders remain the strongest market players with whom SeaQuest continues exchanging fruitful cooperation. In Korea this year SeaQuest managed to be appointed for the Construction Supervision of three firm VLCCs for Oman Shipping Company at DSME and two MR Tankers for Transpetrol at HMD, and for providing turn-key project management for two Ice Class Aframax/Shuttle Tankers for NESTE OY at HHI and three Aframax Product Carriers for ONEX DMCC at Hyundai's HSHI.

On the Chinese front SeaQuest consolidated presence is further extended thanks to the renewed partnership with a good old Client such as Metrostar, which has again placed complete confidence and trust in SeaQuest, selected for the Plan Approval and Construction Supervision of a valuable Suezmax Tanker new building project at NTS.

From logistics prospective, SeaQuest will soon move its strategic representation office to Shanghai Pudong, operative from March 2020.

Year 2019 ended with 11 exceptional ship deliveries, representing an appreciable sign of the positive market trend and outstanding SeaQuest’s performance, taking up the Company's New Building records to 109 projects and 322 ships contracted, corresponding to 27.7 million Tons of deadweight, for a consolidated capital investment exceeding USD 18 billion.

Year 2020 will have a sparkling start with the delivery of two more Newcastlemax Bulk Carriers for 2020 Bulkers at NTS, as well as proceeding with various other technical negotiations, taking SeaQuest full-steam-ahead towards new challenges and more ambitious targets for the years to come.

I take this opportunity to thank all our Clients and SeaQuest's Staff for their hard work and dedication, wishing all prosperity and success for the future.

At the helm…….

Jan Andersson
CEO/Managing Director
SeaQuest MPM