Sembcorp Marine ( (SMBMF) ) has released its Q3 earnings. Here is a breakdown of the information Sembcorp Marine presented to its investors.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Seatrium Limited is a Singapore-based company providing innovative engineering solutions in the global offshore, marine, and energy industries, focusing on sustainable solutions for energy transition and maritime decarbonisation.
In its latest earnings report, Seatrium Limited highlighted a robust operational performance for the third quarter of 2024, with a net order book valued at S$24.4 billion, reflecting a strong pipeline of projects extending to 2031. The company successfully delivered three major projects this year, including a newbuild jackup rig and a refurbished floating production unit, demonstrating its solid project execution capabilities.
Key financial and strategic highlights include the completion of 192 Repairs & Upgrades projects and securing S$100 million worth of new contracts, including a significant carbon capture & storage retrofit. The company also enhanced its financial flexibility by increasing its Global Syndicated Bank Guarantee Facility to US$1 billion. Additionally, Seatrium is advancing its New Energies business, partnering with Greenstat ASA for a hydrogen production facility and renewing collaboration with Nanyang Technological University to drive research in sustainable energy solutions.
Seatrium’s outlook remains positive, with the company committed to continuing its improved financial performance and operational excellence. The management is focused on executing its current order book, completing legacy projects, and optimizing costs to ensure sustained growth in the offshore & marine sector.
