Seatrium Limited has announced a series of divestments aimed at strengthening its cost structure and increasing the group’s operational agility on a global scale. These measures, which are part of a comprehensive strategy to optimize non-core assets, will generate more than S$50 million in annual operational savings from the first quarter of 2026.
Sale of assets and transition to an outsourced model
As part of this initiative, Seatrium has confirmed the sale of its fleet of 17 tugboats in Singapore for S$104 million. The transaction was executed through its subsidiary Seatrium Marine Services, in agreement with KST Maritime and Maju Maritime. Despite the divestment, operational continuity was ensured through a towing services contract signed with KST Maritime. This move represents a shift towards a service outsourcing model that seeks greater long-term efficiency.
Seatrium also completed the sale of the Karimun Yard in Indonesia to PT Tirta Segar Alami, freeing up resources of S$22 million and centralizing its regional operations at its main shipyard in Batam.
Infrastructure reduction in Singapore
In addition, the divestment of the Can-Do 2 floating dock for S$16.9 million and the Crescent Yard for S$12.5 million, both in Singapore, was completed. Together, these transactions strengthen the group’s financial position and reduce associated expenses such as licenses and infrastructure.
With an optimized portfolio and a network of facilities spanning Asia, Europe, the Middle East and the Americas, Seatrium seeks to establish itself as a more flexible engineering provider in the face of market changes.
Focus on financial resilience and sustainability
The group will continue to evaluate new divestment opportunities in non-strategic assets, as part of its plan to maintain financial resilience and focus on segments with higher future profitability. These actions are consistent with its objective of sustainability, capital efficiency and adaptation to the energy transition. energy transition transition.
Source: Seatrium Limited
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