Seatrium Limited Completes Divestment of Tugboat Fleet – Significant Cost Savings Expected

Key Highlights

• Divestment Completed: Seatrium Limited has completed the divestment of its fleet of 17 tugboats in Singapore on 24 April 2026.
• Cost Savings: The divestment, along with other non-core asset disposals, is projected to deliver over S\$50 million in annualised cost savings for the Group.
• Strategic Focus: This move is part of Seatrium’s ongoing strategy to streamline operations and focus on its core businesses in specialised engineering solutions for the offshore, marine, and energy sectors.
• Enhanced Financial Position: The significant cost savings and increased operational efficiency from this divestment could enhance Seatrium’s profitability and financial stability, which may be price-sensitive and positively impact share value.

Details of the Divestment

Seatrium announced the completion of the sale of its 17-vessel tugboat fleet, following up on their earlier statement made on 23 February 2026. The transaction was successfully closed on 24 April 2026. This divestment is part of the Group’s broader initiative to shed non-core assets and sharpen its business focus.

The company expects this divestment, in combination with other asset sales, to result in annualised cost savings exceeding S\$50 million. This is a substantial figure that is likely to have a material impact on Seatrium’s operating costs and bottom line. Investors should take note that such a significant reduction in recurring expenses can directly boost profitability and potentially drive share price appreciation.

Company Profile and Business Direction

Seatrium Limited is headquartered and listed in Singapore, with a history spanning more than 60 years. The Group operates globally, with a presence in 15 countries and a workforce exceeding 24,000 employees. Its main business segments include:

• Oil & Gas Newbuilds and Conversions
• Offshore Wind
• Repairs & Upgrades

The company’s diversified product portfolio encompasses FPSOs (Floating Production Storage and Offloading units), FPUs (Floating Production Units), Offshore Converter Platforms, and various offshore installation vessels, among others.

Seatrium has established strong, long-term relationships with major global energy companies, asset operators, and Transmission System Operators. This positions the Group as a critical player in the ongoing global energy transition. Additionally, Seatrium is actively developing new technologies and solutions such as Carbon Capture & Storage and New Energies, supported by a culture of innovation and a focus on safety and sustainability.

Implications for Shareholders

• Potential Share Price Impact: The successful divestment of non-core assets and the resulting cost savings are likely to be viewed positively by the market. These actions demonstrate prudent capital allocation and a clear strategic focus, both of which can enhance shareholder value.
• Strategic Transformation: By concentrating on its core business and divesting non-core assets, Seatrium is positioning itself for long-term growth and resilience in the evolving energy sector.
• Financial Flexibility: The improved cost structure is expected to provide Seatrium with greater financial flexibility to invest in high-growth areas and emerging energy technologies.

Contact and Further Information

For further details, investors may contact:

Amelia Lee
Head, Investor Relations and Corporate Communications
Tel: +65 6803 0053
Email: [email protected]

Disclaimer: This article is for informational purposes only and does not constitute financial advice or a recommendation to buy or sell any securities. Investors should conduct their own due diligence or consult their financial advisor before making any investment decisions.

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