Seatrium wins ninth FSRU conversion: what it means for Seatrium stock

Published on 10/07/2026 at 03:17 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

First-half revenue rose 4.70 percent to SGD 5.60 billion. For Seatrium stock this means an order book of SGD 13.30 billion.

Seatrium, SGXE34184239, Illustration mit AI erstellt.

Seatrium (ISIN SGXE34184239) secured its ninth FSRU conversion project with Karpowership on October 5, 2026, adding the LNGT Akdeniz vessel to a partnership that has delivered seven FSRUs since 2018. The project will have regasification capacity of up to 600 million standard cubic feet per day and work is scheduled to begin in the first quarter of 2027, MarineLink reported on October 5, 2026.

The project means wider LNG exposure

Seatrium will handle engineering, conversion, integration, installation and commissioning of the regasification equipment and related systems. The award is the second project to emerge from a previously announced letter of intent covering three potential FSRU conversions, according to MarineLink.

The contract also adds to a conversion franchise that Seatrium said had reached 22 FSRU and floating storage unit projects completed since 2007. Kinetics, Karpowership's energy transition initiative, is expected to have 12 LNG assets including vessels in its pipeline after the project.

First-half margins provide the financial base

Seatrium's first-half 2026 revenue rose 4.70 percent year on year to SGD 5.60 billion, while gross profit margin increased to 8.60 percent from 7.40 percent in the first half of 2025. The comparison matters because the improvement came alongside a 54.00 percent increase in net profit excluding divestment gains to SGD 212.00 million, as described in the company's results briefing carried by Yahoo Finance.

The reported net profit including divestment gains rose 158.00 percent to SGD 373.00 million in the first half of 2026. Seatrium's net order book stood at SGD 13.30 billion across 24 projects with deliveries extending to 2033, giving the new conversion project strategic relevance beyond its individual scope.

Prior close keeps the market lens neutral

The Lang & Schwarz prior close was EUR 1.38 on October 5, 2026. Seatrium's market capitalization was SGD 6.8 billion as of October 7, 2026, while the primary-listing 52-week range was SGD 1.92 to SGD 2.51 on the same date.

The further course of trading is shown by the continuously updated real-time quote of Seatrium stock.