Seatrium has agreed to divest its AmFELS yard in Brownsville, Texas, to Karpower Valley for $50m.
The sale, executed through subsidiary Seatrium AmFELS, will enhance capital and operational efficiencies while unlocking value from one of the group’s surplus facilities.
Of the consideration, $39m is deferred and payable one year after closing. The book value of the divested assets as at 30 June 2025 was around $30m.
Completion remains subject to customary conditions, including transfer of the lease by the Port of Brownsville. Seatrium said it will complete all ongoing projects at the yard by the end of 2025 to ensure a smooth transition.
Chief executive Chris Ong said: “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 added that the US remains an important market, with Seatrium to focus its local presence on technology centres and offices in Houston and a service hub in Vicksburg, Mississippi.