Seatrium divests non-core assets in cost-cutting drive

SINGAPORE, February 23, 2026 – Singapore-based offshore EPC specialist Seatrium has divested a series of non-core vessel and shipyard assets as part of an ongoing drive to streamline its business and cut operational costs, the company announced on Monday.

In January 2026, Seatrium sold a fleet of 17 tugboats for about USD 82.2 million to KST Maritime and Maju Maritime, concurrently outsourcing towage services at its Singapore shipyard to KST Maritime. Also in January, the company sold its floating dock at Crescent Yard for about USD 13.4 million to Winter Park Trading, which will scrap and recycle the structure.

In December 2025, Seatrium divested its Karimun Yard in Indonesia for about USD 17.4 million to Tirta Segar Alami of the Salim Group, in a move that will concentrate Seatrium’s Indonesian operations at its larger yard on Batam Island. The deal follows the June 2024 divestment of Crescent Yard in Singapore to Mooreast Holdings for about USD 9.9 million.

All deals are expected to close in Q1 2026, subject to customary terms and conditions.

Previously, Seatrium divested the AmFELS Yard in Brownsville, Texas, to Karpower Valley for about USD 51.4 million in September 2025. It also sold wholly owned indirect subsidiary Guanabara Navegação, a special-purpose vehicle owning two platform supply vessels, to Brazilian vessel operator Posidonia Shipping and Trading for USD 59.7 million.

The company estimates these transactions will cumulatively yield annualised cost savings of about USD 39.5 million and help extract greater value from surplus yard capacity.

Photo courtesy of Seatrium

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