Seatrium - CGS-CIMB Research 2024-01-04: Project Cancelled, But Still An ADD

Seatrium - Project Cancelled, But Still An ADD

Seatrium (SGX:S51) | SGinvestors.ioSeatrium (SGX:S51)
  • Equinor and BP announced an agreement with the New York State Energy Research and Development Authority (NYSERDA) to terminate the Offshore Wind Renewable Energy Certificate (OREC) Agreement for Empire Wind 2 (EW2), an offshore wind farm substation in the US with potential generative capacity of 1,260MW.

Macro factors caused cancellation

  • - Read this at -
  • Seatrium (SGX:S51) was affected accordingly and announced that its contract to build EW2 (contract value of more than S$250m) is being cancelled.

About EW1 & EW2

  • Seatrium was awarded two offshore windfarm substation platforms Empire Wind 1 (EW1) and Empire Wind 2 (EW2) by Equinor and BP in May 23.
  • - Read this at -

Seatrium's EBIT to reduce by S$20m-30m

  •

Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @

LIM Siew Khee CGS-CIMB Research | 2024-01-04

Read also CGS-CIMB's most recent report:
2024-01-30 Seatrium - Toning Down Our Profit Expectations.

Price targets by 4 other brokers at Seatrium Target Prices.

Listing of research reports at Seatrium Analyst Reports.

Relevant links:
Seatrium Share Price History,
Seatrium Announcements,
Seatrium Dividends & Corporate Actions,
Seatrium News Articles


You May Also Like

SGX Stock / REIT Search


Most Read

Trust Bank God Of Fortune Referral Code PGKPSWAE Trust Bank Referral Code 🎁