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Seatrium will have to wait longer to catch wind in sail

The company had to grapple with lawsuits as well as loss-making projects that it took on post-pandemic

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Yong Jun Yuan

Yong Jun Yuan

Published Thu, Apr 25, 2024 · 05:00 AM
    • Analysts see light at the end of the tunnel as the company leaves the spectre of large write-downs and lawsuits behind.
    • Analysts see light at the end of the tunnel as the company leaves the spectre of large write-downs and lawsuits behind. PHOTO: SEATRIUM

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    WHILE strong demand and tight supply have buoyed Singapore-listed maritime players in general, analysts believe it could take some time for offshore and marine giant Seatrium to recover its profitability.

    Maybank analyst Jarick Seet pointed out that Seatrium – which was formed after the consolidation of Sembcorp Marine and Keppel Offshore and Marine – has been winning more contracts recently.

    However, he noted that the company has had to grapple with lawsuits as well as loss-making projects that it took on post-pandemic.

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