- Business
- Seatrium Limited Seatrium Limited provides innovative engineering solutions to the global offshore, marine and energy industries through its core business segments of oil & gas newbuilds and conversions, offshore renewables, repairs & upgrades, and new energies; it designs, engineers, procures, constructs and commissions turnkey offshore floating production systems including FPSOs, FSOs, FPUs, FLNGs, FSRUs, jack-ups, semi-submersibles, drillships and tension leg platforms; offshore platforms encompassing process, drilling, wellhead, power generation, accommodation and offshore substations; specialised vessels such as ferries, RoPax, cruise ships, heavy lift vessels, wind turbine installation vessels, research and survey vessels; as well as repair, refurbishment, retrofitting, life-extension, upgrading and conversion services for rigs, floaters, gas carriers, tankers, containers and marine structures, with growing emphasis on sustainable solutions like carbon capture and storage retrofits, low-carbon technologies, ammonia bunkering and floating wind systems. Headquartered in Singapore and founded in 1963, Seatrium Limited operates shipyards, engineering centres and facilities across Singapore, Brazil, China, India, Indonesia, Japan, Malaysia, the Philippines, Norway, the United Arab Emirates, the United Kingdom and the United States, serving major energy companies, vessel owners and operators, shipping firms, and cruise operators. In recent developments, Seatrium Limited completed its formation in 2023 via the acquisition of Keppel Offshore & Marine by its predecessor Sembcorp Marine followed by a name change; it secured FPSO newbuild contracts P-84 and P-85 from Petrobras in May 2024, a second deepwater FPU from bp in November 2025, and a heavy lift vessel for Japan's offshore wind market in January 2025; formed partnerships including with TenneT and GE Vernova for offshore wind projects in the Netherlands, Cochin Shipyard for jack-up rigs, and Karpowership for FSRU conversions and powership integration; divested non-core assets such as platform supply vessels for S$77 million and the AmFELS yard in 2025; expanded sustainable financing with a US$400 million facility from UOB and advanced decarbonisation through the world's first full-scale CCS retrofit on an LPG carrier and multiple green loan agreements; and appointed Dr Stephen Lu as Chief Financial Officer in April 2025 while progressing share consolidation and buyback programmes.