Singapore-based offshore, marine, and energy solutions provider Seatrium is undertaking a series of additional divestments as part of its ongoing efforts to rationalize non-core assets, streamline operations, and drive long-term value for shareholders.

Seatrium has divested a fleet of 17 tugboats in Singapore for S$104 million (US$77-78 million), executed through Seatrium Marine Services, following a binding purchase agreement signed on January 29 with KST Maritime and its affiliate Maju Maritime, both unrelated third parties and providers of tugboat towage services.