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Seatrium (SGX:5E2) provided a 1Q26 business update. No financials were provided, but the company’s net order book declined from S$17.8b as at 31 Dec 2025 to S$15.5b (across 24 projects, with deliveries till 2033).
- - Read this at SGinvestors.io -
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secured its eighth Floating Storage and Regasification Unit (FSRU) conversion project from Karpowership.
Pending conversion of pipeline into contract wins.
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Ongoing projects remain on track, and management sees pipeline opportunities exceeding S$28b over the next two years. This is lower than the S$32b disclosed at the FY25 results, largely due to Petrobras allocating the final investment decision (FID) for SEAP I to SBM Offshore.
- - Read this at SGinvestors.io -
Gross margins continued to expand.
- Read more at SGinvestors.io.
Above is an excerpt from a report by OCBC Group Research.
Clients of OCBC Securities may be the first to access the full PDF report @ https://www.iocbc.com/.
Ada Lim OCBC Group Research | https://www.iocbc.com/ 2026-05-29
Previous report by OCBC:
2026-02-27 Seatrium - Optimisation In Progress.
Price targets by 3 other brokers at Seatrium Target Prices.
Listing of research reports at Seatrium Analyst Reports.
Relevant links:
Seatrium Share Price History,
Seatrium Announcements,
Seatrium Dividend Payout Dates & Corporate Actions,
Seatrium News
