Seatrium Limited has announced the divestment of its AmFELS Yard in Brownsville, Texas, to Karpower Valley LLC, an affiliate of Turkey’s Karpowership, for a consideration of S$65 million.
The transaction, executed through subsidiary Seatrium AmFELS, Inc., is part of Seatrium’s strategy to enhance capital efficiency and unlock value from surplus facilities. Of the total consideration, S$50 million will be paid one year after closing. The book value of the assets, sold on an “as is, where is” basis, was approximately S$39 million as of June 30, 2025.
Completion of the sale remains subject to standard closing conditions, including the transfer of the lease from the Port of Brownsville. Seatrium confirmed it will fulfill all ongoing projects at the yard before the transition.
Chris Ong, Chief Executive Officer of Seatrium, stated: “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. Notwithstanding the divestment, the U.S. market remains important to us. We will continue to leverage our global footprint and integrated One Seatrium Delivery Model to deliver world-class solutions to our U.S. based and global customers in the offshore and energy sectors.”
Post-divestment, Seatrium will shift its strategic focus in the U.S. toward engineering innovation and technology development, supported by its technology centers and offices in Houston, Texas, and a service center in Vicksburg, Mississippi.
