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261-280 of 4733
damn waiting for 2.2 but never reach...
eugesun ( Date: 04-Mar-2026 12:23) Posted:
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tiny volume of shorts...trading left pocket to right pocket. huat ahhh load up for May dividend and oul price hike..
Joyoftheworld ( Date: 04-Mar-2026 10:18) Posted:
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Now we know. The small bounce yesterday was due to share buy back. Today, the dump continues...
Eugesun' s reverse charm in full swing today. Amazing! Power
eugesun ( Date: 02-Mar-2026 11:50) Posted:
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Let see COOEC can overtake this clown counter market cap 😂
Based on the FY2025 results (comprehensive income of $600mil),Sinktrium should be trading around $2.80. might take a few months of ebb and flow to get there. After that, will have to depend on new contract announcements to progress further.
war need oil reserves, 10 dollar huat ahhh
stlimst ( Date: 02-Mar-2026 10:12) Posted:
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golden indicator, huat ahhh...may dividends , squeezeing time...
Joyoftheworld ( Date: 02-Mar-2026 10:39) Posted:
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Eugesun' s reverse charm in full swing. Almost certain that Sinktrium will tank within the next working day Eugesun shouted " Huat!"
eugesun ( Date: 27-Feb-2026 13:03) Posted:
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Pump and dump. Lao Sai day.
Yup, given th ecurrent situation and the spike in oil price, this counter should be trending up instead of down.
But then again, this is SGX!!!
But then again, this is SGX!!!
Tob231 ( Date: 02-Mar-2026 10:05) Posted:
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you are right .... oil price went up, the price came down
that' s the amazing thing about this counter. when most counters cheong .... it stay
thankfully i pared down
that' s the amazing thing about this counter. when most counters cheong .... it stay
thankfully i pared down
the sentiment on this clown counter still very bad, as a O& G counter can down 5% LOL
Seatrium delivers US$475 million vessel to Maersk for wind project targeted by Trump&rsquo s stop-work order
The vessel was central to a now-resolved arbitration dispute between the two groups in late 2025
[SINGAPORE] Seatrium : 5E2 +5.26% has delivered a US$475 million wind turbine installation vessel to Maersk Offshore Wind to facilitate the development of a wind farm.
The vessel is due to set sail in March for its first assignment at the Empire Wind project located off the coast of New York. There, it will &ldquo play a pivotal role in advancing the wind farm&rsquo s mission to deliver clean and reliable energy to 500,000 homes&rdquo , said the offshore and marine specialist on Friday (Feb 27).
The vessel was central to an arbitration dispute between Seatrium and Maersk in late 2025, which occurred after Maersk attempted to terminate the contract inked with a Seatrium unit for the vessel&rsquo s construction.
Empire Wind was also implicated in attempts by US President Donald Trump to torpedo offshore wind farms last year, The New York Times reported.
A US federal agency in December 2025 issued stop-work orders to five major wind projects, including Empire Wind, citing national security concerns. Subsequently, a US federal judge thwarted Trump&rsquo s move and ruled that Empire Wind could resume.
Arbitration dispute
Seatrium&rsquo s subsidiary, Seatrium Energy International, entered into a contract to build the vessel for Maersk through the latter&rsquo s affiliate Phoenix II.
The vessel was to be deployed at the US offshore wind farm, Empire Wind 1, with the project initially scheduled for completion in early 2025.
On Oct 9, 2025, Seatrium Energy International received a notice of termination regarding the contract. The project was around 98.9 per cent complete at the time.
The Seatrium unit rejected the termination on Oct 12, 2025, and informed Phoenix II that the vessel would be delivered on Jan 30, 2026.
End-buyer of Seatrium-Maersk vessel caught in Trump&rsquo s stop-work order
On Oct 21, 2025, Seatrium Energy International received a notice of arbitration from Phoenix II in turn, it commenced arbitration against the Maersk affiliate on Nov 28, 2025.
On Dec 22, 2025, Seatrium announced that the dispute had been resolved as its unit and Phoenix II had agreed that the vessel would be delivered by Feb 28, 2026.
The Maersk affiliate agreed to pay the balance of the contract price, a sum of US$360 million, upon the vessel&rsquo s delivery.
William Gu, executive vice-president of Seatrium Energy (Marketing), noted that the vessel represents a &ldquo major step forward&rdquo for the global offshore wind sector.
&ldquo We are proud to deliver this unique vessel to our partner, Maersk Offshore Wind, to advance the progress of the end customer&rsquo s wind farm development,&rdquo he said.
The vessel&rsquo s delivery on Thursday followed the completion of sea trial activities and final readiness evaluations.
Vessel features
The vessel was built and custom-engineered by Seatrium for the purpose of installing some of the world&rsquo s largest offshore wind turbines.
It has a &ldquo feeder-based installation design (that) enhances operational efficiency&rdquo , as it is equipped with a &ldquo stabilising system&rdquo that can hold feeder vessels for the transfer of offshore wind components in high-sea states.
Seatrium said this feature &ldquo improves installation efficiency by extending the operational weather window&rdquo . This ensures the vessel &ldquo can carry out uninterrupted installations, improving operational efficiency and reducing total cost and time of installation&rdquo .
The group noted that the feeder-based installation solution design feature is compliant with the US Jones Act and &ldquo can also be deployed in other geographies&rdquo .
https://www.upstreamonline.com/field-development/seatrium-shaking-up-the-global-fpso-market/2-1-1949602
https://www.theedgesingapore.com/news/offshore-marine/seatrium-successfully-delivers-wtiv-maersk
Mainboard-listed Seatrium has successfully delivered a wind turbine installation vessel (WTIV) to Maersk Offshore Wind on Feb 26, following successful and timely completion of sea trial activities and final readiness evaluations at Seatrium?s flagship Tuas Boulevard Yard.
The WTIV is the first-of-its-kind and is custom-engineered and built by Seatrium to install some of the world?s largest offshore wind turbines. Equipped with a 180-metre hook height, the crane supports the installation of 15+MW-class turbines.
With a stabilising system to hold feeder vessels for the transfer of offshore wind components in high sea states, the WTIV enhances installation efficiency by extending the operational weather window, ensuring the WTIV can carry out uninterrupted installations, improving operational efficiency and reducing total cost and time of installation.
According to Seatrium, the feeder-based installation solution is US Jones Act compliant and can also be deployed in other geographies. The WTIV is due to sail in March 2026 for its first assignment at the Empire Wind project offshore New York, where it will play a pivotal role in advancing the wind farm?s mission to deliver clean energy to 500,000 homes.
Seatrium Energy executive vice president of marketing William Gu says, ?This state-of-the-art WTIV represents a major step forward in pushing the possibilities for global offshore wind.
?As the world scales renewable energy at unprecedented speed, we remain dedicated to delivering innovative, future ready solutions that drive the next generation of offshore wind development.?
Seatrium adds that the project achieved zero lost time injuries, indicating its focus on workplace health and safety and disciplined project execution.
In October 2025, Maersk cancelled the US$475 million contract for the WTIV. At that point in time, the vessel was nearly 99% completed. The dispute was successfully resolved in December 2025.
Earlier on Feb 26, Seatrium reported earnings of $324 million for year ended Dec 31, 2025. This was double the previous year. The stronger performance was attributed to higher revenue and improved margins.
Shares in Seatrium closed at $2.28, seven cents, or 3.2% higher, on Feb 26.
Mainboard-listed Seatrium has successfully delivered a wind turbine installation vessel (WTIV) to Maersk Offshore Wind on Feb 26, following successful and timely completion of sea trial activities and final readiness evaluations at Seatrium?s flagship Tuas Boulevard Yard.
The WTIV is the first-of-its-kind and is custom-engineered and built by Seatrium to install some of the world?s largest offshore wind turbines. Equipped with a 180-metre hook height, the crane supports the installation of 15+MW-class turbines.
With a stabilising system to hold feeder vessels for the transfer of offshore wind components in high sea states, the WTIV enhances installation efficiency by extending the operational weather window, ensuring the WTIV can carry out uninterrupted installations, improving operational efficiency and reducing total cost and time of installation.
According to Seatrium, the feeder-based installation solution is US Jones Act compliant and can also be deployed in other geographies. The WTIV is due to sail in March 2026 for its first assignment at the Empire Wind project offshore New York, where it will play a pivotal role in advancing the wind farm?s mission to deliver clean energy to 500,000 homes.
Seatrium Energy executive vice president of marketing William Gu says, ?This state-of-the-art WTIV represents a major step forward in pushing the possibilities for global offshore wind.
?As the world scales renewable energy at unprecedented speed, we remain dedicated to delivering innovative, future ready solutions that drive the next generation of offshore wind development.?
Seatrium adds that the project achieved zero lost time injuries, indicating its focus on workplace health and safety and disciplined project execution.
In October 2025, Maersk cancelled the US$475 million contract for the WTIV. At that point in time, the vessel was nearly 99% completed. The dispute was successfully resolved in December 2025.
Earlier on Feb 26, Seatrium reported earnings of $324 million for year ended Dec 31, 2025. This was double the previous year. The stronger performance was attributed to higher revenue and improved margins.
Shares in Seatrium closed at $2.28, seven cents, or 3.2% higher, on Feb 26.
Slowly but surely
What' s New
Steady FY25 results with net profit doubling to SGD324m, in line with expectation on
higher Revenue +24% and GPM +430bps to 7.4% on execution efficiencies
Orderbook moderated to SGD17.8bn, pursuing SGD32bn pipeline legacy US projects near
completion, ending onerous provisions.
Besides earnings recovery, order win momentum is another critical driver for share price
expect sizeable orders from Petrobras and Tennet
Final DPS doubled to 3.0 Scts We currently have a BUY call with SGD2.96 TP
Analyst
Pei Hwa Ho | [email protected]
Key Financial Data (FY Dec)
Bloomberg Ticker STM SP
Sector Capital Goods
Share Price(SGD) 2.28
DBS Rating BUY
12-mth Target Price (SGD) 2.96
Market Cap (USDbn) 6.1
3m Avg. Daily Val (USDmn) 18.1
Dividend yield (%) 1.5
Fwd. P/E (x) 15.9
P/Book (x) 1.2
ROE (%) 5.0
Closing Price as of 26/02/2026
Source: Twelve Data, DBS, Visible Alpha
Seatrium Limited Share Price
Source: Twelve Data
SGD
SINGAPORE EQUITY RESEARCH
Seatrium Limited
Refer to important disclosures at the end of this report
DBS Group Research 27 February 2026
This report is based on content published on the Insights Direct platform which was last updated on 27 February 2026.
sa: DT, PY, CS
Results broadly in line. Seatrium doubled FY25 net profit to SGD324m (+106% y/y), with
revenue rising 24% to SGD11.5bn from strong Oil & Gas (Petrobras FPSO) and Offshore Wind
(TenneT HVDC) execution, tripling gross profit to SGD848m via better mix, yard utilisation,
series builds, and cost discipline. EBITDA grew 34% to SGD837m, aided by lower finance costs
and SGD50m+ annualised savings from divestments (target SGD100m by FY28). Gross profit
margin was stable at 7.4%, slightly lower than our expectation of ~8%, offset by higher-thanexpected
revenue. We noticed SGD96.5mn provision for onerous contracts booked in 2H25.
Stripping this out, GPM in 2H25 might be closer to 9%, and adjusted net profit c. SGD400mn
for FY25. On a positive note, legacy US wind/dredger nears completion, putting an end to
onerous provisions. Under operating income, STM has also incurred c.SGD100mn forex loss
and provision for restoration cost for Admiraty yard which offset by divestment gains.
Key catalysts: earnings recovery and order wins. Orderbook moderated to SGD17.8bn
(40% green solutions), represents c.2-year revenue coverage. Pressure is mounting to
accelerate order intake and optimise yard operations as major Petrobras and TenneT
projects have long gestation period stretching through 2033. STM secured over SGD4bn
orders in FY25. Order win momentum is expected to pick up with c.USD7-8bn wins this year
with SGD32bn pipeline across O& G (South America/Middle East), wind (Europe), and
conversions with oil demand sustained by AI/tech amid low breakevens. STM proposes
share buyback renewal/share buyback continuation.
What' s New
Steady FY25 results with net profit doubling to SGD324m, in line with expectation on
higher Revenue +24% and GPM +430bps to 7.4% on execution efficiencies
Orderbook moderated to SGD17.8bn, pursuing SGD32bn pipeline legacy US projects near
completion, ending onerous provisions.
Besides earnings recovery, order win momentum is another critical driver for share price
expect sizeable orders from Petrobras and Tennet
Final DPS doubled to 3.0 Scts We currently have a BUY call with SGD2.96 TP
Analyst
Pei Hwa Ho | [email protected]
Key Financial Data (FY Dec)
Bloomberg Ticker STM SP
Sector Capital Goods
Share Price(SGD) 2.28
DBS Rating BUY
12-mth Target Price (SGD) 2.96
Market Cap (USDbn) 6.1
3m Avg. Daily Val (USDmn) 18.1
Dividend yield (%) 1.5
Fwd. P/E (x) 15.9
P/Book (x) 1.2
ROE (%) 5.0
Closing Price as of 26/02/2026
Source: Twelve Data, DBS, Visible Alpha
Seatrium Limited Share Price
Source: Twelve Data
SGD
SINGAPORE EQUITY RESEARCH
Seatrium Limited
Refer to important disclosures at the end of this report
DBS Group Research 27 February 2026
This report is based on content published on the Insights Direct platform which was last updated on 27 February 2026.
sa: DT, PY, CS
Results broadly in line. Seatrium doubled FY25 net profit to SGD324m (+106% y/y), with
revenue rising 24% to SGD11.5bn from strong Oil & Gas (Petrobras FPSO) and Offshore Wind
(TenneT HVDC) execution, tripling gross profit to SGD848m via better mix, yard utilisation,
series builds, and cost discipline. EBITDA grew 34% to SGD837m, aided by lower finance costs
and SGD50m+ annualised savings from divestments (target SGD100m by FY28). Gross profit
margin was stable at 7.4%, slightly lower than our expectation of ~8%, offset by higher-thanexpected
revenue. We noticed SGD96.5mn provision for onerous contracts booked in 2H25.
Stripping this out, GPM in 2H25 might be closer to 9%, and adjusted net profit c. SGD400mn
for FY25. On a positive note, legacy US wind/dredger nears completion, putting an end to
onerous provisions. Under operating income, STM has also incurred c.SGD100mn forex loss
and provision for restoration cost for Admiraty yard which offset by divestment gains.
Key catalysts: earnings recovery and order wins. Orderbook moderated to SGD17.8bn
(40% green solutions), represents c.2-year revenue coverage. Pressure is mounting to
accelerate order intake and optimise yard operations as major Petrobras and TenneT
projects have long gestation period stretching through 2033. STM secured over SGD4bn
orders in FY25. Order win momentum is expected to pick up with c.USD7-8bn wins this year
with SGD32bn pipeline across O& G (South America/Middle East), wind (Europe), and
conversions with oil demand sustained by AI/tech amid low breakevens. STM proposes
share buyback renewal/share buyback continuation.
DBS Research Target Price $2.96
Very bullish all the way to 3 Dollar soon bro
LOL......me sold some at a little profit moons ago too.
Too bad, still stuck with 20 over lots which need above $3 to break even.
Too bad, still stuck with 20 over lots which need above $3 to break even.
huattuatua ( Date: 27-Feb-2026 13:06) Posted:
|