Seatrium's 1Q Update Indicates Strong Start to Financial Year
Dow Jones
Jun 04, 2025
Seatrium appears to have secured a strong start to its financial year, UOB Kay Hian's Adrian Loh says in a research report.
Its 1Q business update shows successful delivery of ExxonMobil's One Guyana floating production, storage, and offloading unit and completion of 45 repair and upgrade projects, the analyst notes.
Also, the integrated shipyard recently won a floating storage regasification unit conversion contract from Norway's Höegh Evi, which will commence late 1H.
These projects signal strong order intake and underpin Seatrium's multi-year revenue visibility up to 2031.
The brokerage has a buy rating and target price of S$2.96 on the stock, which is up 1.00% at S$2.05.
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