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Seatrium Reports 1Q 2025 Operational Performance
? Delivered one FPSO integration project and completed 45 Repairs & Upgrades projects
? Net order book stood at S$21.3 billion, comprising 26 projects with deliveries till 2031
? New order wins include a newbuild heavy lift vessel for the Japanese offshore wind market,
and supply of equipment and license for a LeTourneau Super 116E Class jack-up rig
? Delivered one FPSO integration project and completed 45 Repairs & Upgrades projects
? Net order book stood at S$21.3 billion, comprising 26 projects with deliveries till 2031
? New order wins include a newbuild heavy lift vessel for the Japanese offshore wind market,
and supply of equipment and license for a LeTourneau Super 116E Class jack-up rig
We see a surge or a fall.
I expect good news, as always
I expect good news, as always
Tmr with update, engines are readied.
Trade with updates
Trade with updates
tmr it shall pass the 200 mark for good.
trade with rocket forever
trade with rocket forever
Trade with you never know
Tob231 ( Date: 10-Apr-2025 09:08) Posted:
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Haha ... good for traders as well as investors who DCA .... how to know it is over or another of his trick ....
Of course, hope no more surpises ... yet again .... you never know
Of course, hope no more surpises ... yet again .... you never know
Yes, Trump is creating huge volatility in the markets. Fantastic
Starting at 180 to shoot past 200 today.
ALL FIRED UP
ALL FIRED UP
MrBear12 ( Date: 10-Apr-2025 08:22) Posted:
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My moon rocket is rebuilt and ready to fire.
One more launch to make history.
Lets get moving towards 200 today... ...
Trade with rockets forever!
One more launch to make history.
Lets get moving towards 200 today... ...
Trade with rockets forever!
Dividends restored finally after seven long years!
one small step for Seatrium management
one giant step for its shareholders
one small step for Seatrium management
one giant step for its shareholders
Delvyss ( Date: 12-Feb-2025 13:42) Posted:
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Very refreshing for investors if dividend will be restored.
MrBear12 ( Date: 12-Feb-2025 13:40) Posted:
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Markets are expecting a good set of results and playing this up. Shld it really be true and a dividend restored, Seatrium will rocket past 2.50.
Meanwhile, this will hover 220 to 240.
500 million net profit is the yardstick.
MrBear12 ( Date: 16-Jan-2025 11:11) Posted:
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You mean rise to 50 cents pre-consolidation ($10 post consolidation)?
wehuattogether88 ( Date: 16-Jan-2025 11:46) Posted:
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Seatrium will continue to sink deeper and deeper into 50 cents level. lol
We've cleared the first phase of the journey and are proceeding direct to the moon.
Here is my last post before I go radio silence all the way to the moon on Seatrium rocket mk.12
See you in 2028 on the moon!
MrBear12 ( Date: 31-Dec-2024 16:33) Posted:
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Seateium ended the year above 2.00 at 2.07
The rocket launch is declared a success.
Next year will be a resounding success.
Lead the way Seatrium!
How come DBS didn' t buy ah? DBS don' t trust DBS...lol
Reiterate buy based on animal instincts. Tp 4.00
n3wbie ( Date: 26-Dec-2024 10:01) Posted:
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Is there any institutional buying so far?
Delvyss ( Date: 26-Dec-2024 08:39) Posted:
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Hope everyone had a good Christmas celebration. Sharing DBS update note for reference -
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Kaskida FPU contract in the bag. Seatrium has signed a contract with BP Exploration and Production Inc (BP) to perform engineering, procurement, construction and onshore commissioning (EPC) work for the Kaskida Floating Production Unit (FPU) project in the US Gulf of Mexico, following letter of intent (LOI) signed in Jun-2024. Comprising a single topside module supported by a four-column semi-submersible hull, the Kaskida FPU is supported by subsea production wells located in a water depth of approximately 6,000 feet. The Kaskida FPU has a capacity to produce 80,000 barrels of crude oil per day from six wells in the first phase of development. This also marked Seatrium&rsquo s fourth FPU project for the region. Construction lead time should be around 3-4 years with delivery in 2027-2028 as BP aims to commence production for Kaskida oilfield in 2029.
Reiterate BUY and TP SGD3, based on 1.5x P/Bv. While contract value is undisclosed, we estimate that it could worth over SGD1bn given the work scope. This shall bring YTD wins to nearly SGD14.5bn. Orderbook as of end 2024 likely to stand at c.SGD23bn (slightly down from SGD24.4bn as of end Sept after excluding c.SGD900mn Golar FLNG contract that has recently been terminated), which represents c.3-years of revenue coverage. Besides robust order wins, we are also looking forward to the conclusion of MAS/CAD investigation pertaining to the Brazil Car Wash Operation case, possibly the next few weeks (guided by year end), removing an overhang. We believe Seatrium is on track to deliver strong earnings recovery next year with the delivery of most legacy contracts this year and execution of higher margin new contracts (10-15% gross margin).
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< News Analysis> Kaskida FPU contract in the bag
- Secured the long-awaited BP&rsquo s Kaskida FPU contract that is estimated to worth over SGD1bn
- Another near-term catalyst is the conclusion of MAS/CAD investigation the next few weeks
- On course for earnings turnaround Reiterate BUY TP SGD3
Kaskida FPU contract in the bag. Seatrium has signed a contract with BP Exploration and Production Inc (BP) to perform engineering, procurement, construction and onshore commissioning (EPC) work for the Kaskida Floating Production Unit (FPU) project in the US Gulf of Mexico, following letter of intent (LOI) signed in Jun-2024. Comprising a single topside module supported by a four-column semi-submersible hull, the Kaskida FPU is supported by subsea production wells located in a water depth of approximately 6,000 feet. The Kaskida FPU has a capacity to produce 80,000 barrels of crude oil per day from six wells in the first phase of development. This also marked Seatrium&rsquo s fourth FPU project for the region. Construction lead time should be around 3-4 years with delivery in 2027-2028 as BP aims to commence production for Kaskida oilfield in 2029.
Reiterate BUY and TP SGD3, based on 1.5x P/Bv. While contract value is undisclosed, we estimate that it could worth over SGD1bn given the work scope. This shall bring YTD wins to nearly SGD14.5bn. Orderbook as of end 2024 likely to stand at c.SGD23bn (slightly down from SGD24.4bn as of end Sept after excluding c.SGD900mn Golar FLNG contract that has recently been terminated), which represents c.3-years of revenue coverage. Besides robust order wins, we are also looking forward to the conclusion of MAS/CAD investigation pertaining to the Brazil Car Wash Operation case, possibly the next few weeks (guided by year end), removing an overhang. We believe Seatrium is on track to deliver strong earnings recovery next year with the delivery of most legacy contracts this year and execution of higher margin new contracts (10-15% gross margin).