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Singapore shipyard group Seatrium saw a 158% jump in profit in the first half of 2026 and flagged some SGD32 billion ($24.94 billion) in potential contract opportunities.
Seatrium reported a net profit of SGD373 million for the first six months of the year while revenues were up 5% at SGD5.62 billion compared to SGD5.37 billion in the same period a year earlier.
Net profit in H1 2026 excluding divestment gains was SGD212 million, up 54% on the same period a year earlier.
Divestments have included a fleet of 17 tugboats sold to Boluda, a floating dock, and its shipyard in Karimun, Indonesia.
Chris Ong, CEO of Seatrium, said, “Our solid 1H2026 results reinforce the consistent progress we are making towards building a resilient and more profitable Seatrium. In an increasingly volatile macroeconomic environment, disciplined execution and stronger margins are key for long-term earnings resilience. Our focus on structural cost optimisation has unlocked value and started to yield tangible results.”
Ong also mentioned that “Global pipeline opportunities remain robust – they are actively engaged across every major energy market and expect the momentum of FID to accelerate in subsequent quarters.
Seatrium is chasing SGD32 billion in potential new contracts over the next 24 months primarily from oil and gas which account for SGD21 billion of that total.
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It also sees opportunities for SGD9 billion worth of offshore wind contracts and SGD2 billion in conversions.
The company’s net orderbook, while remaining healthy, has declined to SGD13.3 billion compared to SGD17.8 billion at the end of 2025.
Seatrium was formed with the merger of Keppel Offshore & Marine and Sembcorp Marine in April 2023.
In addition to its core business, Seatrium is also exploring opportunities in the offshore wind sector, which is expected to play a significant role in the global transition to renewable energy.
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Read more about:About the AuthorEditorMarcus Hand is the editor of Seatrade Maritime News and a dedicated maritime journalist with over two decades of experience covering the shipping industry in Asia.Marcus is also an experienced industry commentator and has chaired many conferences and round tables. Before joining Seatrade at the beginning of 2010, Marcus worked for the shipping industry journal Lloyd’s List for a decade and before that the Singapore Business Times covering shipping and aviation.In November 2022, Marcus was announced as a member of the Board of Advisors to the Singapore Journal of Maritime Talent and Technology (SJMTT) to help bring together thought leadership around the key areas of talent and technology.Marcus is the founder of the Seatrade Maritime Podcast that delivers commentary, opinions and conversations on shipping’s most important topics.Conferences & WebinarsMarcus Hand regularly moderates at international maritime events. Below you’ll find a list of selected past conferences and webinars.Wind-Assisted Propulsion: Are we ready? at Seatrade Maritime Crew Connect Global 2024The Challenge Faced by Ship Registries in a Digital and Post-Pandemic Era, October 2020The Future of Transhipment Hubs Post-Pandemic, November 2020Offshore Marine Breakfast Forum at Sea Asia 2019TV & RadioMarcus Hand regularly guests on mainstream media talking about maritime and shipping news stories. Below you’ll find a list of selected appearancesKBS World Radio – Korea24, May 2026BBC News – Hindi Service, April 2026RNZ – First Up, April 2026
