Clarkson PLC Reports Record Interim Profit Driven by Middle East Conflict

Conflict in the Strait of Hormuz Propels Clarkson to Record Interim Profits

Disruption to global trade caused by the conflict in the Middle East has created an extraordinary surge in demand for shipping expertise. Clarkson PLC posted strong interim profits for the first six months of 2026, as turbulence surrounding the Iran war amplified its core business activities.

Revenue climbed 39% to £413.5 million for the half-year ended June 30, 2026. According to unaudited interim results, underlying basic earnings per share reached 147.6p, up from 98.6p a year earlier.

“Clarksons delivered a record first half performance, reflecting both the investment into our underlying business and the exceptional volatility caused by the disruption to global trade from global conflict including the situation in the Strait of Hormuz.”

Andi Case, Chief Executive Officer

Driven by these results, the board increased the interim dividend to 35p per share from 33p in 2025. This adjustment marks the 24th consecutive year of dividend increases for the group. Free cash resources stood at £154.6 million at the end of June, down from £206.2 million a year prior, following the completion of corporate acquisitions including Link Group, Zuma Labs, and Serpac International.

Trump Threatens More Strikes on Iran Amid Rising Middle East Tensions

Seatrium Net Profit Surges as Oil and Gas Projects Outpace Offshore Wind

While shipping brokers capitalized on trade route volatility, offshore marine engineering also saw dramatic growth. Seatrium reported a net profit surge of 158.3 per cent to S$372.9 million for the half-year ended June 30, 2026. The gains were heavily supported by a S$172 million divestment gain from the sale of non-core assets.

Excluding the one-off divestment gain, Seatrium’s net profit rose 54 per cent year on year to S$212 million. Revenue grew 4.7 per cent to S$5.6 billion, underpinned by productivity improvements and higher-margin projects. The oil and gas segment generated S$4.2 billion of that total, rising more than 15 per cent from the previous year on the strength of floating production storage and offloading projects for Petrobras and floating production units for BP.

“Our FPSO business is where we see the most visible near-term opportunity.”

Chris Ong, CEO of Seatrium

In contrast to the oil and gas expansion, Seatrium’s offshore wind business faced headwinds. Revenue in the wind segment fell 21 per cent to S$0.9 billion during the first half. Company executives noted that offshore wind operates on a longer cycle and project timelines have temporarily slowed, though demand momentum is expected to recover in 2027.

Energy Security and Floating LNG Demand Accelerate Pipeline Growth

Geopolitical instability in the Middle East has tightened global liquefied natural gas supplies, turning energy security into an urgent priority for industrial markets. Seatrium is pursuing S$7 billion worth of opportunities in floating liquefied natural gas (FLNG) conversions and new-builds across Africa, alongside S$2 billion in Asia-Pacific projects for floating storage and regasification units (FSRUs).

Trump Cancels Planned Iran Attack as Allies Seek Deal

FLNG facilities allow companies to extract natural gas from offshore deposits and liquefy it directly at sea, while FSRUs store LNG and convert it back into gas faster than land-based terminals can be built. Seatrium secured an FSRU conversion contract with Turkey’s Karpowership during the first half of the year, pointing to a growing pipeline of gas conversion tenders worldwide.

Overall, Seatrium is pursuing a global project pipeline exceeding S$32 billion over the next 24 months. Meanwhile, Clarkson does not expect its usual second-half weighting for earnings to apply this year, with the firm anticipating its full-year outturn to be materially ahead of market expectations following its record opening six months.