Seatrium said its net order book stood at S$16.6 billion as of 30 September 2025, covering 24 projects scheduled for delivery through 2031.
The Group completed two projects during the third quarter and expects to deliver three more by year-end. New orders in the period included the upgrading of FLNG Hilli Episeyo and a series of repairs and upgrades projects. The Group also divested a surplus yard in the U.S. and non-core Platform Supply Vessels for proceeds exceeding S$140 million.
In oil and gas, the company advanced its FPSO series-build and integration projects and continued work on Floating Production Units for Shell and bp. Petrobras’ FPSOs P-80, P-82 and P-83 are undergoing integration at the Tuas Boulevard Yard, while FPU Kaskida reached the strike steel milestone in the quarter. Seatrium also said topside modules for Modec’s FPSO Raia remain on schedule for delivery by year-end.
The Group expects sustained demand for oil and gas assets, driven by rising global energy consumption from data centres and artificial intelligence technologies.
In offshore wind, Seatrium delivered the WTIV Charybdis to Dominion Energy and the OSS Greater Changhua 2b and 4 to Ørsted. Nine projects remain ongoing, including three 2GW HVDC Offshore Converter Platforms for TenneT. The handover of HVDC OCP Sofia to RWE is targeted for year-end. The Group said offshore wind is becoming a strategic part of national energy planning in Europe and Asia and noted that its final two HVAC OSS projects for the U.S. account for less than 1% of its net order book.
In repairs and upgrades, Seatrium completed 47 projects, including 12 LNG carriers. The Group secured an FSRU conversion contract and other high-value projects totaling S$170 million. It also signed a Letter of Intent with Karpowership for integration of New Generation Powerships and FSRU conversions.
Seatrium Limited Seatrium Limited is a Singapore-incorporated engineering group formed from the combination of Sembcorp Marine and Keppel Offshore & Marine. It operates shipyards and engineering facilities in multiple regions and provides design, construction and repair services for offshore, marine and energy infrastructure.
