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Seatrium Ltd
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YANGZIJIANG SHIPBUILDING (HOLDINGS) LTD.
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Guzman
Member |
03-Jun-2026 07:53
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If one tracks the order book of Seatrium, it has been dropping from $22B about 1.5 years ago to $15.5B today. Orders fulfilled and delivered but new orders trickled in slowly. If not for the aggressive cost cutting and divestment by Management, Seatrium would be struggling. The outlook is dimmed. Not easy for a Singapore marine player to find its footing in this competitive market. | ||||
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Speediman
Veteran |
02-Jun-2026 22:44
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Seatrium has a long and complex history with Petrobras, primarily stemming from high-profile corruption scandals and recent financial disputes over decades-old contracts Not winning the project is no loss but a plus for Seatrium!
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n3wbie
Elite |
02-Jun-2026 22:25
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Thanks for sharing. Disappointing that STM dint get this one given that Petrobras is a longstanding customer but I guess concentration risk?
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Battle123
Elite |
02-Jun-2026 21:33
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juz hope got more eprojects win lor then price shoot up up de |
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Tob231
Elite |
02-Jun-2026 20:57
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The four-way bidding race for a Petrobras flotel (offshore accommodation vessel) contract in Brazil ended with an incredibly tight finish, as the winning bidder secured the work by a margin of just $1,000 The victor in this closely contested tender is OOS International, a prominent player in offshore accommodation https://www.upstreamonline.com/exclusive/four-way-race-in-petrobras-tender-ends-with-narrow-1000-margin-victory/2-1-1997136 |
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geographic
Senior |
02-Jun-2026 18:49
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You mean crashed?😭
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eugesun
Elite |
02-Jun-2026 18:05
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tomorrow will be better price... 😂
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geographic
Senior |
02-Jun-2026 17:18
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Seatrium follow the Every Day Low Price EDLP strategy akin to Walmart to entice investors. Smart move.
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geographic
Senior |
02-Jun-2026 17:08
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You really lucky. Huat big time.Buy more win more.
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luckyboy22
Supreme |
02-Jun-2026 16:52
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Managed to get another 10 more at 2.08...hahaha!
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geographic
Senior |
02-Jun-2026 16:21
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Nvm, dropped more buy more. This share is for long term. Now price super cheap. Without 20-1 it is equal to only $0.1035.
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luckyboy22
Supreme |
02-Jun-2026 15:30
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Bought oredi and kena trapped hahahaaaaaaaa
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geographic
Senior |
02-Jun-2026 13:31
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Last chance to buy at such discounted price. | ||||
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Joelton
Supreme |
30-May-2026 13:46
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Seatrium posts S$15.5 billion net order book as at end-March It comprises of 24 projects with delivery dates till 2033 [SINGAPORE] Seatrium : 5E2 +1.84% reported a net order book of S$15.5 billion across 24 projects as at its first quarter ended Mar 31, 2026, with delivery dates till 2033. According to the business update released on Friday (May 29), during the period, two legacy projects &ndash the trailing suction hopper dredger Frederick Paup to Manson Construction and the wind turbine installation vessel Maersk Viridis to Maersk Offshore Wind &ndash were delivered. These took place while ongoing projects continued to advance in line with expectations. Seatrium also completed 46 vessel repairs and upgrades during the quarter, comprising one floating storage regasification unit (FSRU) conversion, five liquefied natural gas carriers, seven cruise vessels, 10 offshore vessels and four naval vessels. Chris Ong, CEO of Seatrium, said: &ldquo We continued to carry the momentum gained in FY2025 into the new financial year with steady project execution and margin improvements. With the completion of our announced divestments, we are well-positioned to deliver further gross margin improvements.&rdquo The group stated that its gross margin strengthened. &ldquo Gross margin continued to strengthen due to improved project mix lower overheads partly contributed by the completed divestments and lower general and administrative expenses resulting from rigorous risk management, productivity gains and cost control initiatives,&rdquo Seatrium said. &ldquo The improving metrics reflect stringent contract selectivity with a preference for series-build projects with progressive milestone payments, pricing discipline and project governance,&rdquo the company added. It also said that its balance sheet remained strong, and that it has made progress in proactively managing its borrowings. Seatrium noted that it secured its eighth FSRU conversion project, LNGT Karadeniz, from Karpowership, during the first quarter. This represents the first of three FSRU conversion projects under an earlier letter of intent, which also covers the integration of up to six new-generation powerships. Pipeline opportunities over the next 24 months are estimated at more than S$28 billion, distributed across oil and gas, offshore wind and conversions. Seatrium said that while elevated oil prices provide a supportive environment for offshore energy infrastructure investments, any increase in project sanctions or order wins is expected to materialise progressively due to capital discipline among customers. Shares of Seatrium closed 1.4 per cent or S$0.03 lower at S$2.17 on Thursday. |
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Joelton
Supreme |
30-May-2026 13:39
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Seatrium continues &lsquo steady&rsquo project execution In its business update for 1HFY2026 ended March 31, Mainboard-listed Seatrium reported &ldquo steady&rdquo project execution with a net order book of $15.5 billion across 24 projects with deliveries through 2033. For reference, Seatrium&rsquo s order book was $17.8 billion as at Dec 31, 2025, implying that more than $2 billion in revenue was recognised during the quarter. During the period, the offshore and marine player delivered two legacy projects &mdash the Frederick Paup, the largest Jones Act compliant trailing suction hopper dredger to Manson Construction and Maersk Viridis, a next generation wind turbine installation vessel to Maersk Offshore Wind. Other projects were reported to be proceeding in line with expectations. &ldquo More than 95% of our net order book today are series build projects [and] this gives us confidence with this improving mix of projects that will progressively contribute to further margin improvements, as well as lower execution risk,&rdquo says Seatrium CEO Chris Ong at a briefing. &ldquo Our diversified business and track record across traditional transition and clean energy affords us the ability to pursue a wide breadth of opportunities.&rdquo On potential contracts, Seatrium shares that pipeline opportunities across oil and gas, offshore wind and vessel conversions segments, remain robust at more than $28 billion &mdash q-o-q down from $32 billion &mdash over the next 24 months. The decrease was attributed to Petrobras awarding the SEAP 1 project to SBM Offshore. Ong explains that key opportunities last disclosed remain mostly intact, comprising South America for oil and gas projects that includes Brazil and Guyana, HVDC (high voltage direct current) opportunities in Europe and HVAC (high voltage alternating current) opportunities in Asia, emerging FLNG (floating liquified natural gas) opportunities in Africa, and fixed platforms in the Middle East. He adds that Seatrium could potentially provide some solutions to SBM for SEAP. &ldquo Our diversified business and track record across traditional transition and clean energy affords us the ability to pursue a wide breadth of opportunities,&rdquo adds Ong. &ldquo While FID [final investment decision] timing is not within our control, we believe that we are well positioned to capture these pipeline opportunities, leveraging our strong competitive position, track record, and global scale.&rdquo On new contract wins during the quarter, the company secured its eighth floating, storage and regasification unit (FSRU) conversion project, LNGT Karadeniz, from Karpowership. This marks the first of three FSRU conversion projects from an earlier letter of intent (LOI), which also comprised the integration of up to six new-generation Powerships. &ldquo Beyond Karpower LOI, we see growing demand for FSRU and FLNG conversion projects driven by a confluence of factors, including energy security, capital efficiency, transition dynamics, and speed of deployment,&rdquo adds Ong. The company points out that gross margin continues to improve due to several reasons including: improved project mix lower overheads partly contributed by the completed divestments and lower general and administrative expenses resulting from &ldquo rigorous risk management, productivity gains and cost control initiatives&rdquo . Margins also reflected &ldquo stringent contract selectivity&rdquo with a preference for series build projects with progressive milestone payments, pricing discipline and project governance. CFO Stephen Lu shares that the company has completed all non-core asset divestments including the AmFELS Yard, Crescent Yard, Karimun Yard, as well as other assets such as the completion of the tugboat fleet divestment in April 2026. &ldquo These are non-core assets and do not impact our capability nor ability to take on new projects [and] together with prior transactions, we are on track to unlock more than $50 million in annualised operational cost savings, and more than $330 million in cash proceeds post-completion,&rdquo says Lu. &ldquo We remain on track to achieve our FY2028 steady state targets.&rdquo On the balance sheet, Lu says that the company is bringing down its average cost of debt while also lengthening debt maturity with the issuance of $400 million 2.95% fixed rate notes due in 2031 under its $3 billion multi-currency debt issuance programme. &ldquo I think importantly, we' re also looking to de-leverage over time as we' re able to do so [and] that' s the most effective way to guard against the rising interest costs,&rdquo says Lu. Seatrium will provide financial details in its 1HFY2026 update, presumably in around three months. At around 10.40am on May 29, shares in Seatrium are down five cents, or 2.3%, at $2.12. |
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MrBear12
Supreme |
29-May-2026 19:34
Yells: "Cast all our anxieties on Jesus for He cares for us" |
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https://www.businesstimes.com.sg/companies-markets/seatrium-eyes-s28-billion-project-opportunities-amid-global-race-energy-security | ||||
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geographic
Senior |
29-May-2026 18:40
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Good foresight! Can predict prices will gap down today.
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eugesun
Elite |
29-May-2026 18:00
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yes, follow the short term investors..next week load up.more...
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geographic
Senior |
29-May-2026 16:35
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You think prices will head south further?
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geographic
Senior |
29-May-2026 16:33
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Yes, the day to load cheap.
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