Seatrium Limited (Seatrium, or the Group) is pleased to
announce that its wholly-owned subsidiary Seatrium Financial Services Pte. Ltd. (SFS) has
successfully refinanced an existing loan facility due in February 2024 with a S$400 million
committed loan facility from DBS Bank Limited (“DBS”).
The three-year committed loan facility includes a sustainability-linked conversion option aligned
to sustainability-linked loan principles, which will support Seatrium in achieving its ESG targets
over time.
Mr Paul Tan, Seatrium’s Acting Group Finance Director, said, “We are pleased to receive the
strong support from DBS to refinance our existing loan facility ahead of time. With this latest round
of successful refinancing, we have secured over S$2 billion in sustainable and green financing
this year alone. We are encouraged by the strong support of our banks to our ongoing efforts in
pursuing sustainability in our business operations for long-term stakeholder value creation and
driving energy transition in our industry.”
Mr Lim Wee Seng, Group Head of Energy, Renewables and Infrastructure, Institutional Banking
Group, DBS, said, “The maritime industry is essential to the real economy, yet also one of several
hard-to-abate sectors. Seatrium is a pioneer for its commitment to sustainability and to overcome
the challenges associated with the energy transition. As a purpose-driven bank, DBS is proud to
be a long-time partner in Seatrium’s sustainability journey, having provided the Group’s first
sustainability-linked loan in 2021, and to continue working with the sector to create a sustainable,
low-carbon future.”
As a leading global provider of innovative engineering solutions for the offshore, marine and
energy industries, Seatrium is committed to achieving its Sustainability Vision 2030, and
supporting its clients in their decarbonisation efforts through the construction, conversion and
retrofit of energy-efficient vessels. It is working towards achieving 40% of its net order book from
renewables and cleaner/green solutions and reducing its greenhouse gas emissions by 40% by
2030.
