"From the moment the two companies came together, we looked at our cost items, line by line, removing what we didn't need and leveraging our combined scale for economic benefits. These changes have fundamentally reduced our cost levels and will continue to have a lasting impact."
"Seatrium reported a net profit of 323.6 million Singapore dollars ($256.3 million) for 2025, a 106% increase from the year before. Revenue also grew by 24% to 11.5 billion Singapore dollars ($9.1 billion), largely due to growth in its oil and gas and offshore wind businesses, which grew by 24% and 60% respectively."
"Global power demand is set to grow by an average of 3.5% per year through 2030, according to the International Energy Agency. The Singapore firm's strong performance comes amid a swell in global energy demand, thanks to energy-intensive technologies like AI and electric vehicles, as well as the rapid industrialization of emerging economies."
Seatrium, a Southeast Asia 500 firm formed from the 2023 merger of Sembcorp Marine and Keppel Offshore & Marine, reported net profit of 323.6 million Singapore dollars for 2025, representing 106% growth year-over-year. Revenue increased 24% to 11.5 billion Singapore dollars, with oil and gas revenue growing 24% and offshore wind revenue surging 60%. Ship repair and upgrade revenue declined 25% due to trade uncertainties. The company benefits from global energy demand growth driven by AI, electric vehicles, and emerging market industrialization. Seatrium holds over 32 billion Singapore dollars in potential contracts over the next 24 months, including 23 billion in oil and gas deals and 7 billion in offshore wind projects. Cost synergies from the merger have strengthened profitability.
#energy-sector-growth #offshore-wind-expansion #merger-synergies #global-energy-demand #oil-and-gas-industry
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