Seatrium has seen its net orderbook cross SGD 20bn ($14.9bn) in the first quarter on the back of its pivot away from fossil fuel-based projects.

The company, formerly known as Sembcorp Marine, says renewables and cleaner/green solutions now comprise around 39% of the group’s net orderbook.

The first quarter of 2023 saw the company clinch its largest ever offshore renewable project to supply the high voltage direct current (HVDC) electrical transmission systems for three mega offshore wind farm projects, each valued at around €2bn ($2.2bn)