Seatrium Secures S$400 Million Green Loan from UOB for Eco-Projects
Seatrium Limited (Seatrium, or the Group) announced that its wholly-owned subsidiary Seatrium Financial Services Pte. Ltd. (SFS) has successfully secured a S$400 million committed Green Revolving Loan Facility from UOB.
The loan facility, underpinned by green loan principles, supports Seatrium’s business growth in the offshore renewables space through financing green/ environmentally sustainable projects, and achieving its Environmental, Social and Governance (ESG) targets over time, further bolstering sustainable development in the offshore and marine sector.
Mr Adrian Teng, Seatrium’s Chief Financial Officer, said, "Seatrium is pleased to partner with UOB on our inaugural green loan facility that will enable us to unlock new opportunities to scale our business ambitions in maritime and offshore renewables. Successful partnerships with industry players and financial institutions are critical in achieving our shared commitment towards maritime decarbonisation. UOB's strong support for our green financing efforts underscores their commitment towards sustainable development, a key step towards driving positive change in clean energy transition.”
Mr Leong Yung Chee, Head of Group Corporate Banking, UOB said, “The transformation of the global energy system is exponential and green financing plays a pivotal role in accelerating this transition towards decarbonisation. As like-minded partners, we are aligned and supportive of Seatrium’s industry-leading efforts to seize opportunities within the renewables energy segment. This partnership will pave the way for more innovative and cleaner energy solutions to chart responsible business growth globally.”
In 2023, Seatrium successfully secured over S$2 billion in sustainability-linked loans and green financing. As a leading global provider of engineering solutions for the offshore, marine, and energy industries, Seatrium is dedicated to fulfilling its Sustainability Vision 2030 by enabling its clients in their mission to reduce carbon footprint through the construction, conversion, and retrofitting of energy-efficient and environmentally sustainable vessels and subsea platforms/development. The Group has set a target 40% of its net order book to comprise cleaner/greener solutions and renewable sources of energy by 2030.
About Seatrium Limited
Seatrium Limited (formerly Sembcorp Marine Ltd and renamed as Seatrium Limited following its combination with Keppel Offshore & Marine Limited) provides innovative engineering solutions to the global offshore, marine and energy industries. Headquartered in Singapore, the Group has over 60 years of track record in the design and construction of rigs, floaters, offshore platforms and specialised vessels, as well as in the repair, upgrading and conversion of different ship types. The Group’s key business segments include Oil & Gas Newbuilds and Conversions, Renewables and New Energies, Specialised Shipbuilding, and Repairs & Upgrades, with a growing focus on sustainable solutions to advance the global energy transition and maritime decarbonisation. As a premier global player offering offshore renewables, new energy, and cleaner offshore & marine solutions, Seatrium is committed to delivering high standards of safety, quality, and performance to its customers which include major energy companies, vessel owners and operators, shipping companies and cruise and ferry operators. Seatrium operates shipyards and other facilities in Singapore, Brazil, China, Indonesia, Japan, the Philippines, Norway, the United Kingdom and the United States