Singapore, Jan 13, 2026, 15:25 (SGT) — Regular session
- Seatrium shares climbed further in afternoon trading, building on their early-January rally
- Oil prices climbed to multi-week highs, boosting sentiment around energy stocks
- Investors are closely tracking the delivery schedule for wind vessels and the pace of new order wins
Seatrium Ltd shares climbed 2.2% to S$2.29 by mid-afternoon Tuesday, pushing the stock’s year-to-date gain to roughly 6%. The counter had closed at S$2.24 on Monday, with around 13.6 million shares changing hands.
Oil prices edged higher in Asian trading, with Brent crude rising 0.4% to $64.11 a barrel. The gains came amid supply concerns sparked by unrest in Iran, alongside U.S. President Donald Trump’s threat of a 25% tariff on nations trading with Tehran.
Investors are reshuffling early in the year, with Singapore’s benchmark climbing about 2.1% so far in January, according to OCBC’s head of equity research Carmen Lee in a note cited by The Business Times. Citi analyst Luis Hilado said the risks to Seatrium from turmoil in the oil market remain “contained,” but cautioned that “risk perception” could drag until the company lands new major orders. He pointed out that oil-and-gas contracts accounted for 74% of Seatrium’s order book for the first half of 2025. businesstimes.com.sg
Seatrium faces another short-term milestone linked to a wind-turbine installation vessel caught up in a dispute with a Maersk affiliate. The company told The Straits Times last month it still plans to “deliver the vessel by Feb 28, 2026” and expects an upfront payment. The buyer gets 10 years to repay a loan secured by the vessel’s mortgage. Seatrium also noted the vessel could be sold or redeployed beyond the U.S. market. straitstimes.com
Seatrium had earlier put the Maersk deal at $475 million, after Maersk called it off on Oct. 10 due to construction delays. In the settlement, Maersk agreed to pay $360 million remaining, with roughly $250 million structured as an interest-bearing loan lasting up to 10 years. Both sides also dropped all legal claims. Seatrium noted the project was about 99.8% finished as of Dec. 22.
For investors, the key swings are obvious. New contract wins would provide a boost, particularly those that bring in cash quickly rather than stretching payments over years. A smooth wind vessel handover would also be significant, shifting the issue from headline risk to a matter of cash flow timing.
Still, the rally isn’t without risks. A hiccup in delivery, fresh setbacks from legacy projects, or a steeper drop in crude prices could once again raise concerns over cash flow and margins, despite the wider order pipeline remaining intact.
Traders are watching oil prices closely, but the calendar matters just as much: Feb. 28 marks a key date on the Seatrium timeline.
