Seatrium Limited has announced the sale of its AmFELS Yard in Brownsville, Texas, to Karpowership for S$65m. This strategic divestment is designed to enhance Seatrium’s capital and operational efficiencies by unlocking value from a surplus facility. The transaction, executed through Seatrium’s subsidiary, Seatrium AmFELS, Inc., involves a binding agreement with Karpower Valley LLC, a related entity of Karpowership.
Chris Ong, CEO of Seatrium, expressed confidence in the partnership with Karpowership, stating, “We have a strong and longstanding relationship with Karpowership, and are pleased to entrust the yard to a partner with whom we will continue to deepen our collaboration.” Despite the divestment, Seatrium remains committed to the US market, focusing on engineering innovation and technology capabilities to support its customers’ evolving needs.
The book value of the divested assets as of 30 June 2025 was approximately S$39m. The sale, subject to customary closing conditions, includes a deferred payment of S$50m to be settled one year post-closing. Seatrium plans to complete all ongoing projects at the AmFELS Yard by the end of 2025, ensuring a smooth transition for its customers and partners.
This move aligns with Seatrium’s broader strategy to leverage its global footprint and integrated delivery model to provide world-class solutions in the offshore and energy sectors.
