Seatrium stock wins another Karpowership FSRU conversion project

Published on 10/07/2026 at 00:53 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Seatrium stock was last at SGD 1.98 on October 6, 2026, as its ninth Karpowership FSRU conversion expands the project pipeline. H1 revenue rose 4.6 percent.

Seatrium, SGXE34184239, Illustration mit AI erstellt.

Seatrium stock (ISIN SGXE34184239) was last at SGD 1.98 on the Singapore Exchange on October 6, 2026 at 5:11 p.m. SGT, down 0.50 percent from the prior close. The company has secured its ninth FSRU conversion project with Karpowership, with work on LNGT Akdeniz scheduled to begin in Q1 2027, as Yahoo Finance reported on October 5, 2026.

Karpowership adds another conversion

The LNGT Akdeniz award extends a relationship that has already produced eight FSRU conversion projects. The contract gives Seatrium another execution milestone for 2027, while the company continues to position offshore engineering and energy services as its core growth areas.

The new project arrives after Seatrium reported first-half 2026 revenue of SGD 5.6 billion, up 4.6 percent year over year. According to Yahoo Finance, gross profit margin rose to 8.6 percent from 7.4 percent in the first half of 2025, a 1.2 percentage point improvement.

Profit growth meets cash flow test

Net profit reached SGD 373 million in H1 2026, an increase of 158 percent, while net profit excluding divestment gains rose 54 percent to SGD 212 million. EBITDA excluding divestments increased 20 percent to SGD 479 million, giving investors a clearer operating measure than the headline profit alone.

Cash conversion remains the key counter-factor. The Smart Investor reported that free cash flow was negative SGD 11.6 million in H1 2026, although this improved from negative SGD 31.9 million a year earlier. The same report said contract assets increased by SGD 1.6 billion as revenue was recognized ahead of billings.

Analysts see room above SGD 1.98

The consensus rating is Buy from 10 analysts, with seven Buy ratings, one Hold and two Sell ratings. Investing.com lists an average 12-month price target of SGD 2.508, with a high of SGD 3.00 and a low of SGD 1.60. The average target lies 26.67 percent above the October 6 price.

Seatrium stock holds below yearly high

Seatrium stock was last at SGD 1.98 on the Singapore Exchange on October 6, 2026. Its 52-week range was SGD 1.92 to SGD 2.51, while market capitalization stood at SGD 6.7 billion and volume reached 18,313,200 shares.