Seatrium will have to wait longer to catch wind in sail
The company had to grapple with lawsuits as well as loss-making projects that it took on post-pandemic
WHILE strong demand and tight supply have buoyed Singapore-listed maritime players in general, analysts believe it could take some time for offshore and marine giant Seatrium to recover its profitability.
Maybank analyst Jarick Seet pointed out that Seatrium – which was formed after the consolidation of Sembcorp Marine and Keppel Offshore and Marine – has been winning more contracts recently.
However, he noted that the company has had to grapple with lawsuits as well as loss-making projects that it took on post-pandemic.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
TikTok tells advertisers: ‘We are not backing down’
EV automakers get reprieve in US tax credit rules
Nomura, Mizuho face losses on All Blue fund’s failed trades
Stablecoin Tether steps up monitoring in bid to combat illicit finance
HSBC asked by US$890 billion investor group to set energy goal
BHP’s biggest rivals sit on the sidelines of Anglo M&A drama