Seatrium requested an immediate trading halt for its shares on Wednesday (July 30) morning, just before the market opened. The suspension comes a day before the offshore and marine engineering firm is set to release its first-half financial results on July 31.

The company attributed the trading pause to an impending announcement but did not disclose further details. Its shares last traded at S2.38 on Tuesday, marking a 152.07 at the end of 2024.

The move follows a strong rally in marine stocks in 2024, driven by surging industry demand and prompting analysts to maintain a bullish outlook on the sector. Seatrium was among the top performers on the Singapore Exchange last year, capitalizing on a wave of new orders in the offshore and marine upcycle.

In 2024 alone, the company’s share price skyrocketed by over 17 times from its year-end 2023 closing price of S0.118. So far in 2025, Seatrium has secured S21.3 billion in new contracts as of Q1, including 26 projects with deliveries extending to 2031. Among these, nine projects worth S$387 million are slated for completion this year.