Singapore, Jan 21, 2026, 15:40 SGT — Regular session
- Seatrium shares inched 0.5% higher to S$2.13, while the STI slipped a bit.
- The stock comes after two straight sessions of losses, with heavy turnover and a surge in short selling.
- Attention is on a wind-vessel delivery set for Feb. 28, tied to a $360 million payment
Seatrium shares rose 0.5% to S$2.13 by 3:29 p.m., recovering from losses over the last two days. The stock fell 3.6% on Jan. 19 and slid another 1.9% on Jan. 20. Tuesday’s trading volume hit around 19.7 million shares, with short selling making up about a third. (SG Investors)
The rebound comes as investors wrestle with industrial stocks jolted by new tariff-related volatility. “Global investors are taking these threats seriously,” Jack Ablin, chief investment strategist at Cresset Capital, told Reuters, referring to Washington’s latest tariff warnings on Greenland. (Reuters)
Timing matters for Seatrium. The stock has been trading like a high-beta play on risk appetite this week, but the key moment is still ahead: the handover of a wind-turbine installation vessel. That handover will determine when cash starts flowing and how any ongoing legal disputes unfold.
Seatrium settled a dispute last month with a Maersk Offshore Wind affiliate over a $475 million vessel contract, after Maersk canceled it in October, citing delays. Under the deal, the buyer must pay the remaining $360 million, with $250 million financed through an interest-bearing credit facility that can last up to 10 years. Repayments will be made from the vessel’s cash flow, according to Reuters. (Reuters)
Seatrium disclosed in its SGX filing that the vessel will be delivered by Feb. 28, 2026, with the buyer expected to take possession by that date. At the time of the announcement, the project was about 99.8% complete. The company added that the resolution is unlikely to have a material impact on net tangible assets or earnings per share for the year ending Dec. 31, 2025. (SGX Links)
Citi analyst Luis Hilado told The Business Times the market took the dispute resolution “positively” as it removed a legal uncertainty. He highlighted the company’s robust order momentum, which could set the stage for a stronger financial year in 2026, the report said. (The Business Times)
The structure of the deal, though, might cause issues. The credit facility functions essentially as a loan secured by the vessel, with repayments linked to operational cash flow. Any setbacks in delivery, dips in utilisation, or surging expenses could swiftly throw off the cash flow projections. (Marine Log)
Flows are taking center stage over fundamentals. Singapore’s cyclicals have shifted alongside broad risk moves as global markets digest tariff updates, with Seatrium moving in step.
Seatrium will release its upcoming earnings on Feb. 20, per Investing.com. (Investing)
The market’s attention is zeroed in on two main issues: updates on the Feb. 28 delivery and if tariff threats actually materialize. Trump revealed plans to slap a 10% import tariff starting Feb. 1 on goods from several European countries, Reuters reports — a looming threat that could shake markets next week. (Reuters)
