Of the total consideration, $39 million is deferred and payable one year after the deal’s closure. As of June 30, 2025, the book value of the divested assets was approximately $30 million. The sale’s completion depends on standard conditions, including the transfer of the yard’s lease by the Port of Brownsville. Seatrium plans to finalize all ongoing projects at the facility by the end of 2025 to ensure a seamless transition.
Chief Executive Chris Ong stated: “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.” He emphasized that the U.S. remains a key market for Seatrium, with the company shifting its focus to technology centers and offices in Houston, Texas, and a service hub in Vicksburg, Mississippi.
The divestiture allows Seatrium to streamline its operations while maintaining a strategic presence in the U.S. market. By transferring the AmFELS yard to Karpower Valley, Seatrium strengthens its partnership with Karpowership, fostering opportunities for future collaboration. The move aligns with Seatrium’s strategy to optimize its asset portfolio and enhance operational efficiency, supporting sustainable growth in the engineering and energy sectors.
This transaction reflects Seatrium’s commitment to adapting its business model to meet market demands while continuing to deliver innovative solutions. The sale of the Brownsville facility is expected to contribute to the company’s long-term financial and operational goals, reinforcing its position in the global engineering industry.
