Seatrium Limited has announced the sale of its AmFELS Yard in Brownsville, Texas, to Karpower Valley LLC, an affiliate of Karpowership, for S$65 million. The divestment, executed through subsidiary Seatrium AmFELS, Inc., is part of the company’s strategy to streamline operations, boost capital efficiency, and unlock value from surplus assets.
According to Seatrium, the Brownsville yard will continue completing existing projects through 2025 before transferring operations to the new owner, pending approval of lease transfer by the Port of Brownsville. The yard had a book value of roughly S$39 million as of June 30, 2025. Of the total consideration, S$50 million is deferred and payable one year after closing.
Chris Ong, CEO of Seatrium, emphasized that the U.S. remains a strategic market despite the divestment. “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. The U.S. market remains important to us, and we will continue to leverage our global footprint and One Seatrium Delivery Model to deliver world-class solutions to our U.S. and global customers,” he said.
The company will retain its U.S. presence through technology centers and offices in Houston, Texas, and a service hub in Vicksburg, Mississippi. These facilities will support Seatrium’s focus on engineering innovation and technology for offshore and energy clients.
The divestment builds on Seatrium’s ongoing strategy to optimize its global asset base while meeting evolving customer needs across the offshore energy sector.
