- 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.
- - Read this at SGinvestors.io -
- 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.
- - Read this at SGinvestors.io -
Growing its MRO business.
- Read more at SGinvestors.io.
