5E2.SI
SGX50SESSeatrium Ltd
Energy · Oil & Gas Equipment & Services · Singapore
Seatrium Limited provides engineering solutions to the offshore, marine, and energy industries. It operates through Rigs & floaters, Repairs & upgrades, Offshore platforms and Specialised shipbuilding; Ship chartering; and Others segments. The company engages in the turnkey design, engineering, procurement, construction, and commissioning of offshore newbuilding and conversions; FSOs, FPSOs, FDPSOs, FPUs, and MOPUs; gas terminals, FLNGs, FSRUs, and Gravifloat; offshore oil and gas fixed platforms; onshore LNG and plant modules; jack-ups, semi-submersibles, and drill ships; and TLPs, SPARs, and SSP solutions. It is also involved in the dry-docking, repair, refurbishment, retrofitting, life-extension, upgrading, and conversion of offshore and marine vessels and structures; gas carriers; cruise ships, ferries, and yachts; floating production vessels; mobile offshore drilling units, jack-ups, and semi submersibles; heavy lift vessels; and specialized projects, including jumboisation and dejumboisation. In addition, the company offers turnkey engineering, procurement, construction, transportation, installation, offshore hook-up, commissioning, and brownfield solutions; high voltage direct current (HVDC) converter stations, high voltage alternating current (HVAC) substations, and wind turbine foundations; and wind turbine installation vessels, floating offshore wind turbines, floating wind-HVDC stations, and HVAC stations. Further, it provides specialized shipbuilding solutions comprising ferry, RoPax, cruise, renewable energy support, offshore support, naval support and security, and research and scientific survey vessels. Additionally, it engages in LNG and ammonia assets; clean tech and energy transition; energies and alternative fuel value chain solutions; and digitalisation solutions. The company was formerly known as Sembcorp Marine Ltd and changed its name to Seatrium Limited in April 2023. Seatrium Limited was incorporated in 1963 and is headquartered in Singapore.
www.seatrium.com ↗Shares trade at a moderate 22.0× trailing earnings, easing to 12.7× on forward estimates. Profitability shows a net margin of 2.8% and return on equity of 4.8%. Leverage is modest at 1.5× net debt/EBITDA. Revenue grew 17.0% year-on-year. It yields 1.5% in dividends. The mean analyst target of SGD2.75 sits 38.6% above the current price (no rating, 10 analysts).
business model
Seatrium is a leading offshore and marine engineering group formed from the 2023 combination of Sembcorp Marine and Keppel Offshore & Marine, building and repairing complex offshore energy and vessel structures. It operates large shipyards and reports in SGD, serving oil-and-gas and increasingly offshore-renewables customers.
revenue segments
Its activities include newbuild and conversion of FPSO/FLNG units and drilling rigs, offshore-wind fabrication (turbine-installation vessels, substations and foundations), ship repair and upgrades, and specialised shipbuilding. Order intake spans traditional oil-and-gas and growing renewables projects.
key dependencies
It depends on offshore energy capital spending, oil prices, offshore-wind investment cycles, large-project execution and cost control, order-book conversion, and yard utilisation. Timely delivery and margin discipline on fixed-price contracts are critical.
competitors
Competitors include South Korean and Chinese yards (Hyundai/HD, Samsung Heavy, and Chinese state builders), other FPSO fabricators and conversion specialists, and offshore-wind fabrication yards.
moat
Its moat comes from yard scale and integrated engineering for highly complex offshore projects, a large combined order book, and specialised capabilities that are difficult for smaller yards to replicate.
risks
Risks include project cost overruns and execution slippage, legacy loss-making contracts, cyclicality of oil-and-gas capex, order concentration, and reputational/legacy legal issues from prior corruption investigations.
Financials & metrics
as of 04 Jul 2026Price is closer to the low end of its range. Green = nearer the yearly low, red = nearer the high — a position indicator, not a buy/sell signal.
Tap any metric for an explanation.● provider● computedN/A not available from source
Income-statement history isn't available for this security.
Dividends
This company does not currently pay a dividend.
Analyst assessment
as of 04 Jul 2026Aggregate consensus only. Named per-analyst targets require a premium source and are not shown; the data model is ready to hold them if one is added.