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Seatrium Restricted has introduced the sale of its AmFELS Yard in Brownsville, Texas, to Karpower Valley LLC, an affiliate of Karpowership, for S$65 million. The divestment, executed by means of subsidiary Seatrium AmFELS, Inc., is a part of the corporate’s technique to streamline operations, increase capital effectivity, and unlock worth from surplus property.
In line with Seatrium, the Brownsville yard will proceed finishing present initiatives by means of 2025 earlier than transferring operations to the brand new proprietor, pending approval of lease switch by the Port of Brownsville. The yard had a e book worth of roughly S$39 million as of June 30, 2025. Of the overall consideration, S$50 million is deferred and payable one yr after closing.
Chris Ong, CEO of Seatrium, emphasised that the U.S. stays a strategic market regardless of the divestment. “Now we have a robust and longstanding relationship with Karpowership, and are happy to entrust the yard to a accomplice with whom we are going to proceed to deepen our collaboration. The U.S. market stays necessary to us, and we are going to proceed to leverage our world footprint and One Seatrium Supply Mannequin to ship world-class options to our U.S. and world prospects,” he stated.
The corporate will retain its U.S. presence by means of know-how facilities and places of work in Houston, Texas, and a service hub in Vicksburg, Mississippi. These amenities will help Seatrium’s deal with engineering innovation and know-how for offshore and vitality purchasers.
The divestment builds on Seatrium’s ongoing technique to optimize its world asset base whereas assembly evolving buyer wants throughout the offshore vitality sector.
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