Singapore, Jan 17, 2026, 15:05 SGT — Market closed.
- Seatrium closed down on Friday, underperforming the stronger Singapore market.
- This week, U.S. court decisions cleared the way for major offshore wind projects to resume, boosting supply-chain stocks.
- Investors will watch both the U.S. litigation schedule and Seatrium’s vessel delivery dates closely.
Shares of Seatrium Limited dropped 5 Singapore cents, or 2.2%, closing at S$2.24 on Friday. The stock fluctuated between S$2.21 and S$2.27, with roughly 21.3 million shares changing hands. (Seatrium)
The decline follows ongoing investor concern over the U.S. offshore wind policy battle, where court rulings have started to erode stop-work orders affecting projects linked to specialised construction vessels. Seatrium is set to hand over a US$475 million wind vessel to Maersk, destined for Equinor’s Empire Wind project. A company spokesperson told The Business Times that the settlement terms announced in December remain unchanged and that they are still targeting delivery by Feb. 28. (The Business Times)
In Washington, U.S. District Judge Carl Nichols issued a preliminary injunction letting Equinor’s Empire Wind project restart work amid ongoing litigation. Nichols ruled that the government’s national security worries don’t trump the “irreparable harm” the project would suffer if stalled. (Reuters)
Just a day later, a federal judge in Virginia gave Dominion Energy the green light to resume construction on its $11.2 billion Coastal Virginia Offshore Wind project. This move deals another blow to the Trump administration’s December halt of five projects, which were paused over classified national security issues, including possible radar interference. Dominion said its priority now is to safely restart work as its legal battle continues. (Reuters)
Singapore’s Straits Times Index climbed 0.3% to 4,849.10 on Jan. 16. Yet, Seatrium and Yangzijiang Shipbuilding lagged, marking some of the benchmark’s weakest spots. Jose Torres, senior economist at Interactive Brokers, pointed to a strong Taiwan Semiconductor earnings report as a key driver behind a revived bullish mood on Wall Street, easing early-year jitters. (The Straits Times)
Seatrium’s stock has shown a clear reaction to U.S. offshore wind news lately. Back in late December, the company announced it had resolved a contract dispute with Maersk. Maersk will pay the remaining US$360 million of the US$475 million contract price. Around US$250 million of that will come through an interest-bearing credit facility lasting up to 10 years. Seatrium also reported the vessel was nearly finished—about 99.8% complete as of Dec. 22. (Reuters)
The legal relief doesn’t fully resolve the key issue: will the Trump administration’s wider effort to stall East Coast offshore wind hold up? Some projects got the green light from judges, but others are still caught in legal battles. Developers and states continue to push back against the federal halt on leases and work orders. (AP News)
Seatrium now faces both procedural and operational hurdles. According to The Straits Times, Nichols has ordered both parties in the Empire Wind case to submit a fast-tracked briefing schedule by Jan. 20. Court documents warn that delays could jeopardize the project’s financial viability, with Equinor highlighting possible losses if the project is scrapped. The report also mentions the vessel tied to the earlier Seatrium-Maersk conflict is slated for delivery by Feb. 28. (The Straits Times)
With Singapore markets closed for the weekend, all eyes turn to the next session to see if Friday’s drop was just a blip or marks a shift toward caution in offshore-and-marine stocks.
