It’s back to the offshore and marine industry today as we dive into a company that often makes the list of top movers on the Singapore Exchange. 

You might have guessed it by now – yes, we’re speaking to Seatrium Limited or the enlarged entity formed after Sembcorp Marine completed the S$4.5 billion acquisition of its industry peer Keppel Offshore and Marine in March 2023. 

Named after a combination of the words “sea” and “atrium”, Seatrium aspires to be a premier global player in providing engineering solutions for the offshore, marine and energy solutions.

Today, its key business segments include Oil & Gas, Offshore Wind, Repairs & Upgrades and Carbon Capture and Storage and New Energies, with the firm increasingly focusing on sustainable solutions as the global maritime industry transitions to cleaner energy use and embarks on decarbonisation efforts. 

Its presence meanwhile can be felt around the world, with shipyards as well as engineering and technology centres and facilities in Singapore, Brazil, China, India, the Middle East, the US and even more.

Now, Seatrium is an interesting company to look at because the firm’s leadership managed to turn the business around in slightly less than two years. 

In February 2025, the firm reported a net profit of S$120.9 million for its second half ended December. The showing marked a reversal from the net loss of S$1.8 billion seen in the year ago period. 

The performance meant a full-year net profit of S$156.8 million for Seatrium, a marked improvement from the S$2 billion loss seen the year prior, and first full-year profit since the merger with Keppel Offshore and Marine. 

The road ahead for the firm remains positive, with the company reporting a net order book of S$21.3 billion as at the end of March, with project deliveries stretching to 2031. But really, how does the firm assess its turnaround strategy and the road ahead given volatilities relating to global trade and oil prices?
 
On Under the Radar, Money Matters’ finance presenter Chua Tian Tian posed these questions to Chris Ong, CEO, Seatrium.