Seatrium has completed divested its AmFELS Yard located at Brownsville in Texas to Karpower Valley, a related party of Karpowership.
The divestment, first announced in September 2025 and completed on January 30, 2026, will allow Seatrium to enhance capital and operational efficiencies, while unlocking value from one of its surplus facilities, the company said at the time.
All projects carried out at the AmFELS yard have been completed and delivered prior to completion the asset sale, Seatrium said, which was valued $50.7 million (S$65 million) at the time the agreement was made.
With the asset divestment, Seatrium transitioned its strategic presence in the U.S. to focus on engineering innovation and technology capabilities, through its technology centers and offices located in Houston, Texas, and service center in Vicksburg, Mississippi to support the evolving needs of its customers.