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Seatrium Ltd
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Seatrium - Sea of Hopes & Atrium of Surprises (II)
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BinderyT
Elite |
26-Mar-2025 10:25
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come join the dark side .... we pay 12 cents
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BinderyT
Elite |
26-Mar-2025 10:24
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Hello! Long time no see :) Seems like both YZJ and Seatrium have bottomed and recovering now yeah? Cheers |
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seanpent
Supreme |
26-Mar-2025 10:04
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Seems like a similar consolidation pattern before the race to 2.60 | ||||
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naoshingo
Elite |
26-Mar-2025 09:31
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Car cash until car paint come off... | ||||
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Tob231
Elite |
26-Mar-2025 08:54
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AGM not over yet. To be held on 23 April 2025 If you waiting for dividend, XD is 6 May and Payout 19 May So long a wait. Should forget about it and like a mother hen sit on it .... no $5 don' t sell 😜 😂 🤣 |
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Joyoftheworld
Master |
25-Mar-2025 16:56
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Yup, share price has been dropping precipitately since they announced the miniscule dividend last month....hope to get this dividend thing done and forgotten so share price can start making some progress again.
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talonn
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25-Mar-2025 09:46
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Just learnt that there will be dividend coming soon? | ||||
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seanpent
Supreme |
25-Mar-2025 09:19
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May be seeing a nice surprise today | ||||
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Battle123
Elite |
25-Mar-2025 08:19
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see when got show do a high jump up up de
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War3craft2003
Member |
24-Mar-2025 22:24
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https://www.offshorewind.biz/2025/03/24/greater-changhua-2b-4-offshore-substation-installed/
Greater Changhua 2b & 4 Offshore Substation Installed Wind Farm Update March 24, 2025, by Adrijana Buljan The offshore substation (OSS) of the Greater Changhua 2b and 4 offshore wind project has been installed at its designated location 47 kilometres off the southwest coast of Taiwan. The OSS components were transported to the site by Boskalis?s vessels Mighty Servant 3 and Transshelf, and the installation of the substation was carried out by Heerema?s crane vessel Aegir. The construction of the offshore substation in 2023 at Seatrium?s Pioneer yard in Singapore. The jacket, piles, and the 3,260-tonne topside departed from Seatrium?s construction yards in Batam, Indonesia, and Singapore at the beginning of February, setting sail for the Taichung port in Taiwan. The 920 MW Greater Changhua 2b and 4 offshore wind farms are located next to the 900 MW Greater Changhua 1 and 2a project, which is in full operation, both developed and owned by Ørsted. Offshore construction of Greater Changhua 2b and 4 started in February this year, with the work now well underway. Besides the now-installed offshore substation, the laying of the first export cable section is completed and the installation of 66 suction bucket jacket foundations and wind turbines is about to begin soon. The 920 MW project will feature 66 Siemens Gamesa 14-236 DD wind turbines, the largest of their kind to be deployed in the Taiwan Strait, according to Ørsted. |
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Joyoftheworld
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24-Mar-2025 11:41
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You hear it first here on this forum. www.theedgesingapore.com/news/company-news/seatrium-doubles-ceo-ongs-pay-leading-turnaround
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seanpent
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24-Mar-2025 08:59
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Song Song to $3 soon | ||||
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War3craft2003
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23-Mar-2025 11:01
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https://sginvestors.io/analysts/research/2025/03/seatrium-uob-kay-hian-research-2025-03-21
.Seatrium - UOB Kay Hian 2025-03-21: Well-positioned To Take Advantage Of Growth Opportunities Seatrium - Well-Positioned To Take Advantage Of Growth Opportunities Seatrium?s competitive position in Brazil remains strong and we believe that it should be able to take advantage of some of the recent unsuccessful tenders by its competitors. A key near-term catalyst to Seatrium's share price is the conclusion of the MAS/CAD investigation. In the medium to long term, earnings growth in its R&U segment could be bolstered by the MRO business. Still A Strong Contender In Brazil. In 2024, Seatrium (SGX:5E2) demonstrated its strong competitive position in Brazil by winning Petrobras? P-84 and P-85 FPSO newbuilds, as well as the topsides fabrication and/or integration work for the Errea Wittu and Jaguar FPSOs. Petrobras? challenges in some of its other tenders due to high bid prices, insufficient local content and limited bidder participation could put Seatrium in a strong position to win more orders in the medium term given Petrobras? desire to deploy its substantial exploration and production capex plan of US$77b over the 2025-29 period. We forecast US$6b in new order wins for Seatrium in 2025. Growing Its MRO Business. Given Seatrium?s and Keppel Offshore Marine?s long operating history resulting in two-thirds of the world?s jack-ups being its own designs, the company believes that its maintenance, repair and overhaul (MRO) business has significant upside albeit off a low base. This sub-segment of the repairs and upgrades (R&U) business relates to services required to keep offshore oil rigs, FPSOs, drillships and support vessels in optimal working condition and is critical for to maintain safety, compliance, and operational reliability. The attraction of this segment, like that of the real estate fund management industry, is its steady recurring revenue and lower volatility in earnings. The MRO sub-segment is a new initiative and thus it is too early for Seatrium to disclose revenue however, note that the R&U segment generated S$1.1b in revenue in 2024 (+7% y-o-y). Interest In Renewables Still At A High Level. With S$7.9b, or 34%, of its S$23.2b net orderbook as at end-24 in the renewables and cleaner/green solutions, Seatrium remains optimistic on the sector with the exception of the US east coast. Management stated that despite higher-for-longer interest rates, the level of enquiries remains at a very robust level and has a firm belief that order cancellations will not happen. Europe continues to invest in this sector although the relatively poor state of the grid has presented some hurdles to faster renewables adoption. Petrobras? Problems May Open Doors For Seatrium. One of the key issues faced by Petrobras in the past couple of years was high tender prices, as evidenced by India's Shapoorji Pallonji Energy which bid US$1.5m/day to supply an FPSO. This was 15-50% higher than prior contracts that were priced at around US$1.0m to US$1.3m/day. The Brazilian national oil company also has strict rules around local content in order to support the domestic shipbuilding industry and enhance job creation with the Indian firm failing on this measure. In addition, the limited bidder participation for some tenders, e.g. the Barracuda-Caratinga FPSO tender that was initiated in mid-23, has hindered Petrobras' efforts to revitalise the field and thus presents an opportunity for Seatrium should terms and conditions be revised. Ownership Of US Yards Intrinsically Positive Given Current US Trade Policy... Seatrium operates the Seatrium AmFELS yard in Brownsville, Texas which focuses on the construction of oil and gas platforms, Jones Act shipbuilding, structural fabrication, and the repair and upgrade of offshore and marine platforms and vessels. The yard is currently constructing two vessels: a wind turbine installation vessel for Dominion Energy, and a 11,500m3 hopper dredge. Since coming into power in 2025, the Trump presidency has enacted a US-first trade policy which could see an increase in work at Seatrium?s yard for: Jones Act-related shipbuilding and repairs, orders and/or repairs for various types of offshore oil and gas drilling rigs, and infrastructure and dredging-related projects (e.g. dredgers). ?But There Are Hurdles To Overcome. Seatrium has acknowledged that it has seen an increase in enquiries for its US yard vs 6-12 months ago. However, management stated that the key hurdle is access to skilled labour with the US labour force preferring the technology sector for example. Ironically, the US? stricter immigration stance could make it harder for shipyards to be competitive, while a tariff war could increase production costs for Seatrium?s AmFELS yard. No Changes To Forecasts, Maintain Sector View At OVERWEIGHT. We maintain our BUY recommendation with an unchanged P/B-based Seatrium's target price of S$2.96. Our target P/B multiple of 1.5x is 1.5 standard deviation above the company?s 5-year average. In our view, this P/B multiple appears reasonable considering the company?s strong competitive position globally, its increasing revenue visibility out to 2031 and potential for more order wins in 2025. We continue to like Seatrium as we believe that the company will benefit from stronger offshore marine dynamics in 2025 as well as demand for offshore vessels and structures related to the renewables industry. In the near term, a key re-rating catalyst is the completion of the investigation by the MAS/CAD. Key Catalysts: Completion of the MAS/CAD investigations. New orders for rigs, offshore renewable installations or fabrication works. Repairs and upgrade works for cruise ships and other commercial vessels. Changes in US regulations and policies which may result in higher demand for offshore assets. Key Risks: Key risks in the near term include weaker oil prices which could negatively impact sentiment on Seatrium. |
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Joyoftheworld
Master |
21-Mar-2025 21:16
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News out. CEO Chris Ong earned $4.2mil in 2024 (vs $1.8mil in 2023) . All key executives have more than doubled their earnings. Sinktriums shares will be trading > $5 when Chris Ong earns $10mil that year. | ||||
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seanpent
Supreme |
20-Mar-2025 15:44
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OIC. They have the leading technology and track record. 
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Joyoftheworld
Master |
20-Mar-2025 15:38
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Sinktrium should get a lion share of the floating nuclear plant business. Just like to they are the global leading contractor for offshore High voltage DC platform by tying up with General Electric etc. about $2billion a piece. Sinktrium is also the technology leading for "floating" platform. All the platforms building now are fixed, not floating.
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seanpent
Supreme |
20-Mar-2025 13:26
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Seatrium is in offshore and marine applications. What is Seatrium potential involvement in floating nuclear power plants ? | ||||
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Delvyss
Elite |
20-Mar-2025 13:12
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Quiet but still very active
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LoudShout
Master |
20-Mar-2025 11:42
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Very quiet, Over a decade of Car Washing, still no closure.. Waste time convening committee to revitalise SGX.
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Delvyss
Elite |
20-Mar-2025 09:00
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Quiet is good. | ||||
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