Source: Fortune
Summary
Seatrium, a Singapore-based energy and marine engineering firm, reported a 106% increase in net profit to $256.3 million in 2025, driven by growth in its oil and gas and offshore wind businesses. Revenue grew 24% to $9.1 billion, despite a 25% decline in ship repair and upgrade revenue. The company’s strong performance is attributed to the global energy boom, with the International Energy Agency forecasting a 3.5% annual growth in global power demand through 2030. Seatrium’s shares rose 3.6% after the earnings release.
Our Reading
The numbers tell one story.
Seatrium’s CEO Chris Ong highlights the company’s ability to win projects despite a tough macro environment. CFO Stephen Lu attributes the company’s cost savings to economies of scale from its 2023 merger. Seatrium has over $25.3 billion in potential contracts over the next 24 months. The company’s offshore wind project, Empire Wind, is 97% complete and expected to deliver 810 MWs of clean energy to New York. Seatrium’s optimism is a signal.
Author: Evan Null
Seatrium’s Earnings Soar Amid Global Energy Boom
Seatrium’s net profit more than doubled in 2025, driven by growth in its oil and gas and offshore wind businesses.
Global Energy Demand on the Rise
The International Energy Agency forecasts a 3.5% annual growth in global power demand through 2030, driven by energy-intensive technologies and emerging economies.
Seatrium’s Merger Pays Off
CFO Stephen Lu attributes the company’s cost savings to economies of scale from its 2023 merger with Sembcorp Marine and Keppel Offshore & Marine.
Offshore Wind Project Nears Completion
Seatrium’s Empire Wind project is 97% complete and expected to deliver 810 MWs of clean energy to New York.
Seatrium’s Outlook
The company has over $25.3 billion in potential contracts over the next 24 months, driven mainly by oil and gas deals in the Americas and offshore wind deals.
