Seatrium Sells Its Texas Shipyard to Karpowership

Seatrium Sells its Texas Shipyard to Karpowership

Seatrium, the recently-merged combination of Singaporean rivals Keppel and Sembcorp Marine, has sold its American yard in Brownsville, Texas. The AmFELS facility, best known for building the offshore wind ship Charybdis, will now be owned by Turkish fossil-fueled powerplant builder Karpowership, a longtime partner and customer of Seatrium.  AmFELS is a full-service offshore shipyard specializing in rig repairs, refits and Jones Act newbuilds. Th…

Seatrium sells US yard AmFELs for $50.6m

Singapore shipyard group is selling its shipyard in Brownsville, Texas to Karpowership.

Singapore’s Seatrium Offloads Texas AmFELS Yard to Karpowership for $50 Million

Singapore-based Seatrium Limited has announced the divestment of its AmFELS Yard in Brownsville, Texas, to Karpower Valley LLC for S$65 million (USD 50.6 million), marking a significant realignment of its...

Seatrium to sell AmFELS shipyard to Turkey’s Karpowership

Singapore-headquartered Seatrium Limited has announced that it has reached an agreement to divest its AmFELS shipyard in Brownsville, Texas, to Turkey’s Karpowership, for a consideration of SGD 65 million (about US$50.1 million) . The asset sale is being executed through Seatrium’s subsidiary, Seatrium AmFELS Inc., which has entered into a binding agreement with Karpower Valley LLC, a related party of Karpowership. Seatrium says that it “remains…

Karpowership to buy US shipyard from Singapore’s Seatrium

Powership owner set to shift into new gear with US facility

Seatrium offloads US shipyard to Karpowership

Singapore shipyard group Seatrium has sold its AmMFELS yard located at Brownsville, Texas, for a consideration of S$65m ($50.6m) to Karpower Valley, a related party of Karpowership. Seatrium stated that the accretive divestment would allow the company to enhance capital and operational efficiencies while unlocking value from one of its surplus facilities. Following the sale, …