Seatrium Completes Sale of AMFELS Yard in Texas to Karpowership for S$65M
Seatrium has finalized the sale of its AMFELS Yard in Brownsville, Texas, to Karpower Valley, LLC, an affiliate of Karpowership, for S$65 million (US$50 million). The agreement was established in September 2025, enabling Seatrium to enhance capital and operational efficiencies.
Although divesting the shipyard, Seatrium remains committed to the US market and will continue to support American customers through its Houston and Vicksburg operations. The sale's cash consideration includes S$50 million (US$39 million) deferred for one year post-closure.
As of June 30, 2025, the book value of the sold assets was approximately S$39 million (US$30 million). Prior to the sale, all projects at the shipyard were completed, including the delivery of the first US-flag wind turbine installation vessel to Dominion Energy. Additionally, Seatrium delivered Karpowership's Karadeniz LNGTS Americas, enhancing future collaboration between the companies.
