Singapore-based offshore and marine group Seatrium said on Monday it has agreed to sell its AmFELS shipyard in Brownsville, Texas, to Karpower Valley for $50 million, as part of efforts to streamline operations and enhance capital efficiency.
The transaction, conducted through its subsidiary Seatrium AmFELS, involves a deferred payment structure, with $39 million of the total consideration payable one year after completion. The book value of the assets being divested stood at approximately $30 million as of 30 June 2025, the company said.
Seatrium noted that the divestment will allow the group to unlock value from a non-core asset and improve operational focus.
“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,” said Seatrium chief executive Chris Ong in a statement.
Completion of the deal is subject to customary closing conditions, including the successful transfer of the lease from the Port of Brownsville. Seatrium said it will continue to oversee ongoing projects at the yard, aiming to complete them by the end of 2025 to ensure a smooth handover.
Following the sale, the company said it will maintain its U.S. presence through technology centres and offices in Houston, Texas, and a service hub in Vicksburg, Mississippi.
“The US remains an important market,” Ong added, underscoring Seatrium’s commitment to maintaining a strategic footprint in the region.
