Seatrium (formerly Sembcorp Marine) announced that its net orderbook has grown to above S$20 billion.
🕵️♂️ What happened?
- Seatrium (formerly Sembcorp Marine) announced that its net orderbook has grown to above S$20 billion.
- This is higher than Sembcorp Marine and Keppel Offshore and Marine's combined orderbook of S$17.8 billion in December 2022.
Source: SGX as of 20 May 2023
🔧 What are the drivers of Seatrium's share price?
- Seatrium has seen strong order momentum year-to-date. In May 2023, the company was awarded a contract worth more than S$500 million for two offshore wind farm substations. This follows a contract worth 6 billion euro won by a Seatrium consortium to supply high voltage direct current electrical transmission systems for three mega offshore wind farm projects.
- The contracts demonstrate the company’s transition towards green energy, with renewables and green solutions now comprising 39% of the company’s order book.
- Seatrium has a healthy balance sheet following the completion of its merger with Keppel
...
