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Latest Forum Topics / Seatrium Ltd    Last:2.01    -0.01  Post Reply
Seatrium - Sea of Hopes & Atrium of Surprises (II)
Tob231
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14-Apr-2026 09:18     
 
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 Alert Admin 		not asking much, when can reach $3 ...haha
hokkien " pea boh yan" ran so fast cannot smell smoke  or speedy gonzales.... same time same price ,YZJ has already crossed $4, this counter is still languishing around 2.47/8 😂 😂 😂 😂 😂 😂 😂 😂

Speedy Gonzales - Wikipedia

 
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stockpicker
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14-Apr-2026 09:09     
 
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 Alert Admin

https://sg.finance.yahoo.com/news/oil-over-us-100-oil-093000371.html?guccounter=1& guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8& guce_referrer_sig=AQAAAKsdCsVnH_rBU5Z9wMEX9lNtW6BgHz76eJOW3USigaMVsAzkCZ7Ea8xUlrzoK6snBM_isNYk06MAtGBGCe2oQw7nW1nfxKHL-OxXS4uG_xuDYLxKdLaVBgP_Vqa9G0pBhY3WL-QwLiddqzCF2o1ovYri16-3y89gochYhqq1BoDt
Seatrium Limited (SGX: 5E2) & mdash The Offshore Services Provider



Seatrium is a leading offshore services provider. 

Boasting a 60-year track record, the company is renowned for its consistent safety standards and geopolitical diversity. 

The company& rsquo s flagship products include gigantic Floating Production, Storage, and Offloading (FPSO) units that are built in yards across Brazil, China, Indonesia, the Philippines, and Singapore. 

As opposed to higher-risk bespoke projects, Seatrium has a & ldquo design once, build many& rdquo approach that reduces execution risk and enhances delivery efficiency.

This strategy appears to be working with the company& rsquo s FY2025 revenue climbing 24% to S$11.5 billion, driving net profit up 106% to S$324 million, thanks to disciplined project execution, improved operating leverage, and cost efficiencies.

The engineering specialist sits on a robust S$17.8 billion net order book that stretches through to 2033. 40% of the net order book comprises renewables and cleaner/green solutions, providing Seatrium with resilience across energy cycles.

With such revenue visibility, Seatrium proposed a doubling of its dividend for FY2025 to S$0.03 per share.
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Trainner
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13-Apr-2026 08:59     
 
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 Alert Admin 		There will be a lot of volatility in near term.
For longer term, Seatrium should perform good.

stockpicker      ( Date: 13-Apr-2026 08:42) Posted:

Higher oil prices lead to greater investments in oil equipment. As of 3Q 2025, Seatrium' s net order book stands at S$16.6 billion, comprising 24 projects with deliveries extending through 2031. Seatrium' s substantial net order book and the growing new wins will need significant working capital to manage 24-26 ongoing projects through 2031. While the company has returned to profitability and reported improved operating cash flows, the capital-intensive nature of its offshore, marine, and energy projects necessitates large credit lines and active capital management to support construction and project execution. Seatrim should benefit from higher oil price according to this SGX article

https://www.sgx.com/research-education/market-updates/20230928-whats-trending-oil-plays-spotlight-crude-prices-rise


 

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stockpicker
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13-Apr-2026 08:42     
 
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 Alert Admin 		Higher oil prices lead to greater investments in oil equipment. As of 3Q 2025, Seatrium' s net order book stands at S$16.6 billion, comprising 24 projects with deliveries extending through 2031. Seatrium' s substantial net order book and the growing new wins will need significant working capital to manage 24-26 ongoing projects through 2031. While the company has returned to profitability and reported improved operating cash flows, the capital-intensive nature of its offshore, marine, and energy projects necessitates large credit lines and active capital management to support construction and project execution. Seatrim should benefit from higher oil price according to this SGX article

https://www.sgx.com/research-education/market-updates/20230928-whats-trending-oil-plays-spotlight-crude-prices-rise


 
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stockpicker
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11-Apr-2026 15:07     
 
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5 offshore wind farms move ahead after Trump admin misses appeal deadline [update]

Then Seatrim was involved in. dispute with Maersk in October,   resulting a drop of about 8% in share price. 

https://electrek.co/2026/04/10/us-offshore-wind-backlash-grows-as-empire-revolution-wind-sue-trump-admin/?fbclid=IwdGRjcARGy8JleHRuA2FlbQIxMQBzcnRjBmFwcF9pZAo2NjI4NTY4Mzc5AAEeoCUIIaIqzjKH-q1O8sly7218JEPf-8LYJlHNAfv9nWcMETQoZhcEkN1OhDg_aem_Dqb5TCNXfGjGrRi55tH8SA
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stockpicker
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11-Apr-2026 13:13     
 
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 Alert Admin 		This chart shows that Seatrim has cleared the symmetrical triangle and ready to scale higher. Unfortunately,   the announcement of multi-currency debt announcement threw a spanner, pulling the price back.   Guess the investors will need time to digest the multi currency debt announcement. As long as the price stay above 2.42,   the last high,   the hope to scale new high is still good. 

​
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War3craft2003
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11-Apr-2026 11:41     
 
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 Alert Admin 		Big contract from SBM for SEAP 1 & 2 coming soon!

Petrobras and SBM reach agreement of US$7.8bn for FPSOs
https://www.bnamericas.com/en/news/petrobras-and-sbm-reach-agreement-of-us78-billion-for-fpsos#:~:text=According%20to%20this%20source%2C%20the%20final%20amounts,SEAP%20II%20and%20US%244.00bn%20for%20SEAP%20I.
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edmund128
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11-Apr-2026 11:34     
 
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eugesun      ( Date: 10-Apr-2026 14:47) Posted:

ready for defense Singapore....good move, 10 dollar huat ahh...

Trainner      ( Date: 10-Apr-2026 00:37) Posted:

👌
good analysis by AI....
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stockpicker
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11-Apr-2026 09:57     
 
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 Alert Admin 		Seatrim is in a recovering mode, from a negative return of -9% in H1 24 to today' s return of about 2%,  representing an increase of around 20%.  The returns were gradually increasing since H2 24 from 0.93%.  The PE ratio in H2 24 was a whopping 45.2 indicating the investors were buying up the stock believing in Seatrim' s recovery story.  Today, the PE ratio in H2 25 was around 23 which is almost half of H2 24..  It shows that the investors are still hopeful that this recovery story will linger longer.  With the rapid pace of expansion and the increase in order books and projects,  the investors should have already expected Seatrim will need to boost its capital in time to come.  The issuance of new debts or notes will not dilute the share of the shareholders (unlike issuing new equity), but it  will  introduce interest obligations.  This might not adversely affected a growing company like Seatrim whose is likely to use the debt to finance the growing project constructions.  As Seatrim has relatively lower debt, it may improve their weighted average cost of capital (WACC), using the interest tax shield to their advantage.  Seatrim is for investors who favour turnaround prospects. 
If the investors want something more stable, they should consider YZJ.  Both Seatrim and YZJ are equally strong fundamentally. 
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Apple55
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11-Apr-2026 02:27     
 
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 Alert Admin 		To be exact, Temasek did not sell Seatrium shares. It' s Keppel Corp that has sold (as expected). Good thing is, Keppel Corp has finished selling all the shares and market has absorbed it well.

gosharej      ( Date: 10-Apr-2026 15:54) Posted:

the price movement will tell the future of the stock, Temasek should stop selling to proof that the strategy forward is good move. Else how to convince share holding to keep buying.

eugesun      ( Date: 10-Apr-2026 14:47) Posted:

ready for defense Singapore....good move, 10 dollar huat ahh..
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PiRPiR
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10-Apr-2026 23:08     
 
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 Alert Admin 		https://bt.sg/LmaQ

Seatrium has established a S$3 billion multicurrency debt issuance programme to refinance existing borrowings, fund potential acquisitions, and meet general working capital and capital expenditure requirements. The program, which received in-principle approval from the SGX-ST, allows Seatrium and Seatrium Financial Services to issue notes or perpetual securities in various currencies and tenors.
The Business Times
The Business Times
+2
Key Details of the Programme:
Capacity: S$3 billion multicurrency debt issuance.
Issuers: Seatrium Limited and Seatrium Financial Services Pte. Ltd. (SFS).
Guarantor: Notes issued by SFS are unconditionally guaranteed by Seatrium.
Arrangers & Dealers: DBS Bank Ltd. and Standard Chartered Bank (Singapore) Limited.
Purpose: Refinancing, funding acquisitions/investments, capital expenditure, and working capital.
The Business Times
The Business Times
+3
The establishment of this programme provides Seatrium with greater financial flexibility to pursue growth opportunities and manage its capital structure efficiently.
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gosharej
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10-Apr-2026 15:54     
 
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 Alert Admin 		the price movement will tell the future of the stock, Temasek should stop selling to proof that the strategy forward is good move. Else how to convince share holding to keep buying.

eugesun      ( Date: 10-Apr-2026 14:47) Posted:

ready for defense Singapore....good move, 10 dollar huat ahh...

Trainner      ( Date: 10-Apr-2026 00:37) Posted:

👌
good analysis by AI....
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eugesun
Elite
10-Apr-2026 14:47     
 
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 Alert Admin 		ready for defense Singapore....good move, 10 dollar huat ahh...

Trainner      ( Date: 10-Apr-2026 00:37) Posted:

👌
good analysis by AI.....

JurongW      ( Date: 10-Apr-2026 00:08) Posted:

MS-copilot opinion:

If Seatrium were to acquire ST Engineering marine business, it would likely benefit Seatrium more than ST Engineering. Seatrium would gain scale, shipyard capacity, and diversification in defense-related marine contracts, while ST Engineering would streamline its portfolio by focusing on aerospace, electronics, and smart city solutions.

📊 Strategic Impact Comparison

Aspect Benefit to Seatrium Benefit to ST Engineering
Core Business Fit Strengthens offshore & marine portfolio, adds defense/naval contracts Divests non-core marine unit, sharpens focus on aerospace & electronics
Scale & Capacity Gains additional shipyard facilities, workforce, and engineering expertise Reduces capital-intensive operations, frees resources for higher-margin businesses
Revenue Diversification Expands into defense-related shipbuilding (naval vessels, patrol craft) Avoids cyclical marine sector risks, stabilizes earnings profile
Financial Impact Potential revenue boost but integration costs could be high One-off cash inflow from sale, improves balance sheet
Strategic Positioning Positions Seatrium as a more comprehensive marine & defense player Positions ST Engineering as a leaner, tech-driven conglomerate

🔑 Key Considerations



  • For Seatrium:
    • Upside: Access to defense contracts (naval vessels, patrol craft) could provide more stable revenue compared to volatile offshore oil & gas projects.
    • Risk: Integration challenges, overlapping facilities, and potential debt load if acquisition is financed aggressively.


  • For ST Engineering:
    • Upside: Divestment aligns with its strategy to focus on aerospace, electronics, and smart city solutions, which are higher-margin and growth-oriented.
    • Risk: Loss of marine diversification could be seen as retreating from a traditional business line.

⚖ ️ Overall Assessment

  • Better for Seatrium in terms of growth and diversification, especially if it wants to move beyond cyclical offshore energy markets into defense and government contracts.
  • Better for ST Engineering in terms of focus and profitability, as it sheds a lower-margin, capital-heavy business to concentrate on its strengths.


In short: Seatrium gains breadth, ST Engineering gains focus. The deal would be strategically positive for both, but the immediate operational upside leans toward Seatrium, while the financial and strategic clarity favors ST Engineering.

 


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geographic
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10-Apr-2026 12:34     
 
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 Alert Admin 		Despite all the positives it does not bode well with the share price. Even grocery store share Sheng Siong is moving faster. 
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Trainner
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10-Apr-2026 00:37     
 
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 Alert Admin 		👌
good analysis by AI.....

JurongW      ( Date: 10-Apr-2026 00:08) Posted:

MS-copilot opinion:

If Seatrium were to acquire ST Engineering marine business, it would likely benefit Seatrium more than ST Engineering. Seatrium would gain scale, shipyard capacity, and diversification in defense-related marine contracts, while ST Engineering would streamline its portfolio by focusing on aerospace, electronics, and smart city solutions.

📊 Strategic Impact Comparison

Aspect Benefit to Seatrium Benefit to ST Engineering
Core Business Fit Strengthens offshore & marine portfolio, adds defense/naval contracts Divests non-core marine unit, sharpens focus on aerospace & electronics
Scale & Capacity Gains additional shipyard facilities, workforce, and engineering expertise Reduces capital-intensive operations, frees resources for higher-margin businesses
Revenue Diversification Expands into defense-related shipbuilding (naval vessels, patrol craft) Avoids cyclical marine sector risks, stabilizes earnings profile
Financial Impact Potential revenue boost but integration costs could be high One-off cash inflow from sale, improves balance sheet
Strategic Positioning Positions Seatrium as a more comprehensive marine & defense player Positions ST Engineering as a leaner, tech-driven conglomerate

🔑 Key Considerations



  • For Seatrium:
    • Upside: Access to defense contracts (naval vessels, patrol craft) could provide more stable revenue compared to volatile offshore oil & gas projects.
    • Risk: Integration challenges, overlapping facilities, and potential debt load if acquisition is financed aggressively.


  • For ST Engineering:
    • Upside: Divestment aligns with its strategy to focus on aerospace, electronics, and smart city solutions, which are higher-margin and growth-oriented.
    • Risk: Loss of marine diversification could be seen as retreating from a traditional business line.

⚖ ️ Overall Assessment

  • Better for Seatrium in terms of growth and diversification, especially if it wants to move beyond cyclical offshore energy markets into defense and government contracts.
  • Better for ST Engineering in terms of focus and profitability, as it sheds a lower-margin, capital-heavy business to concentrate on its strengths.


In short: Seatrium gains breadth, ST Engineering gains focus. The deal would be strategically positive for both, but the immediate operational upside leans toward Seatrium, while the financial and strategic clarity favors ST Engineering.

 

Trainner      ( Date: 09-Apr-2026 23:56) Posted:

Is this good or bad for Seatrium
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JurongW
Elite
10-Apr-2026 00:08     
 
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Yells: "Earnings give weight, Chart give wings"
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 Alert Admin 		MS-copilot opinion:

If Seatrium were to acquire ST Engineering marine business, it would likely benefit Seatrium more than ST Engineering. Seatrium would gain scale, shipyard capacity, and diversification in defense-related marine contracts, while ST Engineering would streamline its portfolio by focusing on aerospace, electronics, and smart city solutions.

📊 Strategic Impact Comparison

Aspect Benefit to Seatrium Benefit to ST Engineering
Core Business Fit Strengthens offshore & marine portfolio, adds defense/naval contracts Divests non-core marine unit, sharpens focus on aerospace & electronics
Scale & Capacity Gains additional shipyard facilities, workforce, and engineering expertise Reduces capital-intensive operations, frees resources for higher-margin businesses
Revenue Diversification Expands into defense-related shipbuilding (naval vessels, patrol craft) Avoids cyclical marine sector risks, stabilizes earnings profile
Financial Impact Potential revenue boost but integration costs could be high One-off cash inflow from sale, improves balance sheet
Strategic Positioning Positions Seatrium as a more comprehensive marine & defense player Positions ST Engineering as a leaner, tech-driven conglomerate

🔑 Key Considerations



  • For Seatrium:
    • Upside: Access to defense contracts (naval vessels, patrol craft) could provide more stable revenue compared to volatile offshore oil & gas projects.
    • Risk: Integration challenges, overlapping facilities, and potential debt load if acquisition is financed aggressively.


  • For ST Engineering:
    • Upside: Divestment aligns with its strategy to focus on aerospace, electronics, and smart city solutions, which are higher-margin and growth-oriented.
    • Risk: Loss of marine diversification could be seen as retreating from a traditional business line.

⚖ ️ Overall Assessment

  • Better for Seatrium in terms of growth and diversification, especially if it wants to move beyond cyclical offshore energy markets into defense and government contracts.
  • Better for ST Engineering in terms of focus and profitability, as it sheds a lower-margin, capital-heavy business to concentrate on its strengths.


In short: Seatrium gains breadth, ST Engineering gains focus. The deal would be strategically positive for both, but the immediate operational upside leans toward Seatrium, while the financial and strategic clarity favors ST Engineering.

 

Trainner      ( Date: 09-Apr-2026 23:56) Posted:

Is this good or bad for Seatrium?

JurongW      ( Date: 09-Apr-2026 17:56) Posted:



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Trainner
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09-Apr-2026 23:56     
 
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 Alert Admin 		Is this good or bad for Seatrium?

JurongW      ( Date: 09-Apr-2026 17:56) Posted:

Plausible with this news announced yesterday. 

https://links.sgx.com/1.0.0/corporate-announcements/LI1NKWTIZLXKQKWL/882641_Establishment%20of%20S%243%20Billion%20Multicurrency%20Debt%20Issuance%20Programme.pdf

Joyoftheworld      ( Date: 09-Apr-2026 14:19) Posted:

Rumour has it that Sinktrium is raising funds to buy over ST Engineering marine. We will know soon if that is true.
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JurongW
Elite
09-Apr-2026 17:56     
 
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Yells: "Earnings give weight, Chart give wings"
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 Alert Admin 		Plausible with this news announced yesterday. 

https://links.sgx.com/1.0.0/corporate-announcements/LI1NKWTIZLXKQKWL/882641_Establishment%20of%20S%243%20Billion%20Multicurrency%20Debt%20Issuance%20Programme.pdf

Joyoftheworld      ( Date: 09-Apr-2026 14:19) Posted:

Rumour has it that Sinktrium is raising funds to buy over ST Engineering marine. We will know soon if that is true.
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eugesun
Elite
09-Apr-2026 17:52     
 
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 Alert Admin 		ok join the bulls team pump it ot 3 dollar 💵

Joyoftheworld      ( Date: 09-Apr-2026 14:19) Posted:

Rumour has it that Sinktrium is raising funds to buy over ST Engineering marine. We will know soon if that is true.
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Joyoftheworld
Master
09-Apr-2026 14:19     
 
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 Alert Admin 		Rumour has it that Sinktrium is raising funds to buy over ST Engineering marine. We will know soon if that is true.
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