Singapore-based offshore, marine, and energy solutions provider Seatrium has brought to a close the disposal of its tugboat fleet as it continues its mission to part ways with non-core assets in its portfolio.
Seatrium completed the divestment of its fleet of 17 tugboats in Singapore on April 24, 2026. The completion comes after the announcement in February 2026 , when the firm explained that the sale was expected to generate S$104 million ($77-78 million), following a binding purchase agreement with KST Maritime and its affiliate Maju Maritime.
This move, alongside other non-core asset divestments disclosed earlier, such as the AmFELS yard in Texas and Guanabara Navegação Ltda (GNL) , a special-purpose vehicle that owns two units of platform supply vessels (PSVs), is expected to deliver over S$50 million ($39.26 million) in annualized cost savings upon completion.
Meanwhile, Seatrium recently secured multiple assignments, including the conversion of a floating storage regasification unit (FSRU) with Türkiye’s Karpowership.