“More than 95% of our net order book today are series build projects [and] this gives us confidence with this improving mix of projects that will progressively contribute to further margin improvements, as well as lower execution risk,” says Seatrium CEO Chris Ong at a briefing. “Our diversified business and track record across traditional transition and clean energy affords us the ability to pursue a wide breadth of opportunities.”
In its business update for 1HFY2026 ended March 31, Mainboard-listed Seatrium reported “steady” project execution with a net order book of $15.5 billion across 24 projects with deliveries through 2033. For reference, Seatrium’s order book was $17.8 billion as at Dec 31, 2025, implying that more than $2 billion in revenue was recognised during the quarter.
During the period, the offshore and marine player delivered two legacy projects — the Frederick Paup, the largest Jones Act compliant trailing suction hopper dredger to Manson Construction; and Maersk Viridis, a next generation wind turbine installation vessel to Maersk Offshore Wind. Other projects were reported to be proceeding in line with expectations.
