Seatrium achieves $25.8b net order book in 1Q24

The quarter's order book comprises 31 projects with deliveries set until 2030.

Seatrium's net order book reached $25.8 billion in 1Q24, its latest business update revealed.

The quarter's order book comprises 31 projects with deliveries set until 2030.

In the same quarter, Seatrium delivered Singapore's first membrane LNG bunker vessel, Brassavola, and completed 67 repairs and upgrades projects.

Amongst Seatrium's repairs and upgrades projects in the quarter was a full-scale turnkey Carbon Capture and Storage (CCS) retrofit for Solvang ASA.

ALSO READ: Seatrium bags FPSO integration contract from SBM Offshore

Meanwhile, Seatrium secured a $400m green revolving loan facility in 1Q24 to support offshore renewables business growth, adding to over $2b in sustainability-linked loans and green financing secured last year.

Year-to-date 2024, Seatrium bagged order wins of over $11.4b, including the newbuild FPSO platforms P-84 and P-85 for Petrobras, Sparta FPU newbuild for Shell Inc, the MODEC integration contract for the Errea Wittu FPSO, and the SBM Offshore integration contract for the Jaguar FPSO.

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