SINGAPORE, Jan 28, 2026, 15:35 SGT — Regular session
- Seatrium shares edged up about 1% in afternoon trade, recovering after slipping slightly yesterday
- Singapore Exchange reported a net order book totaling S$16.6 billion on Tuesday, alongside fresh contract wins
- Investors are on edge ahead of Seatrium’s Feb. 26 earnings, keeping a close watch on looming legal battles and delivery risks
Seatrium Limited’s shares climbed 1% to S$2.11 by 3:23 p.m. local time Wednesday, after swinging between S$2.09 and S$2.13 earlier in the session. Trading volume stood at about 7.1 million shares, per ShareInvestor data on InvestingNote. investingnote.com
The Singapore Exchange’s Market Dialogues published a “10 in 10” Q&A with Seatrium, showing a net order book at S$16.6 billion by end-September 2025, plus an additional S$3 billion in new orders since then. Seatrium also reported a S$30 billion project pipeline as of June 30, 2025, and revealed it’s setting project margin “hurdle rates” in the mid-teens—targeting mid-teen percentage margins on new contracts after accounting for risk. i3investor
Seatrium’s shares are increasingly tied to execution and cash flow, rather than just backlog numbers. On Jan. 27, DBS Group Research described Seatrium as a “laggard opportunity,” highlighting expected boosts from new contract wins and margin gains. DBS Bank
Investors, take note: Seatrium will report its full-year results for the period ending Dec. 31, 2025, on Feb. 26, before the market opens, according to a filing with the Singapore Exchange. SGX Links
An order book shows the value of contracts a company has landed but hasn’t completed yet. For shipyards and offshore engineering firms, it offers insight into upcoming work, though it doesn’t guarantee profits — projects frequently run into design changes, delays, and conflicts.
Legal issues have re-emerged. Seatrium New Energy and partner Aibel initiated arbitration over the DolWin 5 offshore converter platform. Seatrium disclosed preliminary claims totaling about 180 million euros, with Aibel’s portion at roughly 113 million euros, per a Jan. 22 statement. The company said the financial impact remains unclear and depends on the arbitration’s resolution. SGX Links
Seatrium still faces delivery risks on another offshore wind vessel, despite settling with Denmark’s Maersk last December. Under the new deal, a Maersk affiliate will shoulder the remaining US$360 million of the original US$475 million contract. The company confirmed the vessel is scheduled for delivery on Feb. 28, 2026. Citi analyst Luis Hilado called the agreement a relief, saying it removes a “legal overhang,” according to the Straits Times. The Straits Times
Traders are watching to see if Seatrium can hold above S$2.10 on heavy volume through the session. The next big event is the earnings report due Feb. 26, followed by updates on claims, project milestones, and vessel delivery set for late February.
