Seatrium has put in motion a series of non-core asset divestments set to complete by early 2026, targeting over $40 million (S$50 million) in annualized operational cost savings.The Singapore-based offshore and marine
Seatrium has put in motion a series of non-core asset divestments set to complete by early 2026, targeting over $40 million (S$50 million) in annualized operational cost savings.
The Singapore-based offshore and marine group said the savings will follow recent divestments of the AmFELS yard in Texas and the GNL Platform Supply Vessels disclosed in 2025, alongside additional transactions earlier.
The company said the divestments form part of its strategy to rationalize non-core assets, streamline operations and optimize its cost structure, with all transactions expected to complete by early 2026.
In January 2026, Seatrium divested a fleet of 17 tugboats in Singapore for $82 million (S$104 million). The sale, executed through its subsidiary Seatrium Marine Services, followed a binding purchase agreement signed on January 29, 2026 with KST Maritime and its affiliate Maju Maritime, both unrelated third parties.
Seatrium has entered into a towage services agreement with KST Maritime to provide tugboat services to its Singapore-based shipyards, shifting to an outsourcing model expected to offer long-term cost efficiencies. The tugboat sale is targeted for completion in the first quarter of 2026.
The group also sold its Can-Do 2 floating dock, previously moored at Crescent Yard, for about $13.3 million (S$16.9
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