Seatrium Sees Margin Improvement as Focus Shifts to Order Wins

Singapore‑based Seatrium was established in 2023 following the merger of Sembcorp Marine and Keppel O&M. We believe the enlarged entity enhances Seatrium’s earnings prospects, underpinned by increased scale and a stronger order book. The company’s strategically located shipyards provide strong coverage across key growth markets, including Brazil and Southeast Asia, with capabilities ranging from basic repairs and upgrades to complex module fabrication and rig construction.