Karpowership’s affiliate dishes out millions to take over Seatrium’s US shipyard
With the completion of a multimillion-dollar sale deal, Seatrium AmFELS, a subsidiary of Singapore’s Seatrium, has handed over a shipyard in Texas to Karpower Valley, a related party of Türkiye’s floating power plant company Karpowership, to enhance capital and operational efficiencies, while unlocking value from one of its surplus facilities.
Seatrium has completed the divestment, initially disclosed in September 2025, of its AmFELS Yard located at Brownsville, Texas, in the United States. The company explains that all projects carried out at the yard have been completed and delivered prior to completion. The Singapore-based player previously said Karpowership would get its hands on the U.S. yard for a consideration of S$65 million (around $51.23 million).
After the asset divestment, Seatrium will transition its strategic presence in the U.S. to focus on engineering innovation and technology capabilities, through its technology centres and offices in Houston, Texas, and service centre in Vicksburg, Mississippi to support the evolving needs of its customers.
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