Seatrium returns to profitability with $36m gain in H1 2024

H1 2024 is the company's first profitable period since its formation in 2023.

Seatrium returned to black in H1 2024, posting a net profit of $36m.

H1 2024 marked Seatrium’s first profitable period since its formation in 2023.

The company attributed its return to profitability to increased activity and continued project execution.

In the same period, Seatrium reported a 39% year-on-year growth in revenue, reaching $4.0b, driven by progressive revenue recognition from its new-build projects and increased repairs and upgrades activities.

In H1, Satrium delivered Singapore's first new-build Membrane LNG Bunker Vessel, Brassavola, and completed 133 Repairs & Upgrades projects.

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