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.