Seatrium expects more than S$50 million in annualised operating cost savings once a package of divestments is completed, with all related transactions targeted to close by early 2026. The company said the disposals form part of its continuing effort to reduce non-core holdings, simplify operations, and improve long-term shareholder value.
One transaction still in progress is the sale of the Crescent Yard in Singapore for S$12.5 million in cash. Completion is expected by Q1 2026 following the exercise of a purchase option by Mooreast Holdings that had been granted in June 2024.
The divestment programme also includes the sale of the Karimun Yard on Karimun Island, Indonesia, for S$22 million. The deal was executed through PT Karimun Sembawang Shipyard under a binding agreement dated 31 December 2025 with PT Tirta Segar Alami, described as a related party of the Salim Group. Seatrium noted that most of the yard’s land leases will expire in September and that activity at the site has reduced in recent years, with ongoing works moved to nearby facilities. The company said the sale will be settled in cash, the assets were transferred on an “as is, where is” basis, and the divested assets had already been fully written down.
In Singapore, Seatrium divested a fleet of 17 tugboats for S$104 million (US$77-78 million) through Seatrium Marine Services. The sale followed a binding purchase agreement dated 29 January with KST Maritime and its affiliate Maju Maritime, both described as unrelated third parties that provide tugboat towage services. Alongside the disposal, Seatrium entered into a towage services agreement with KST Maritime to support towage requirements at its Singapore shipyards, shifting towage costs toward an outsourcing model while maintaining continuity.
Another Singapore transaction involved the disposal of the Can-Do 2 floating dock for about S$16.9 million. The sale, to be paid fully in cash, was executed through Seatrium New Energy Limited under a binding agreement dated 30 January with Winter Park Trading – F.Z.E, described as an unrelated third party. The buyer plans to scrap the floating dock and recycle its components. Seatrium said it expects savings after completion through the removal of vessel-related licence fees, insurance and other operating expenses.
The company also pointed to divestments disclosed in 2025, including the AmFELS yard in Texas and Guanabara Navegação Ltda (GNL), a special-purpose vehicle that owns two units of platform supply vessels.
