DBS estimates Seatrium's portion of the contract to be valued at $1.6 to $1.8 billion, which makes up a quarter of the brokerage's new order assumption of $7 billion for the current FY2024.
Analysts from DBS Group Research and CGS International Research have kept their positive view on Seatrium after it won the "highly anticipated" third contract from TenneT.
As announced by Seatrium on Feb 19, it is helping to build a 2GW transmission system together with GE Vernova for the customer, which operates transmission systems in the Netherlands and Germany.
