Seatrium targets over S$50 million in savings through asset divestments
This follows a series of transactions involving shipyards, tugboats and equipment across Singapore and Indonesia
[SINGAPORE] Seatrium expects to achieve over S$50 million in annualised operational cost savings by early 2026 through the divestment of non-core assets, the group announced on Monday (Feb 23).
The savings follow a series of transactions involving shipyards, tugboats and equipment across Singapore and Indonesia.
“Alongside recent divestments of the AmFels yard in Texas and the GNL platform supply vessels disclosed in 2025, the group expects to collectively achieve over S$50 million of annualised operational cost savings to be recognised post completion,” Seatrium said in the statement.
“These divestments represent an acceleration in Seatrium’s asset portfolio optimisation strategy, optimising the group’s cost structure, enhancing asset utilisation and sharpening its competitive edge,” it added.
Key divestment transactions
The group has executed or scheduled several major asset sales to streamline its portfolio:
- Tugboat fleet (Singapore): In January 2026, Seatrium sold 17 tugboats to KST Maritime and Maju Maritime for S$104 million. The group concurrently signed a towage services agreement with KST Maritime to outsource its future towing requirements. The sale is targeted to complete by Q1 2026.
- Can-Do 2 floating dock: The dock, previously moored in Crescent Yard, sold in January 2026 for about S$16.9 million to Winter Park Trading FZE for scrapping and recycling. Upon the completion of the sale, targeted by Q1 2026, the group will realise savings from elimination of vessel-related licence fees, insurance and other operating expenses, it said.
- Karimun Yard (Indonesia): Located on Karimun Island in Indonesia, the yard was divested in December 2025 to Tirta Segar Alami for S$22 million. The divestment “centralises Seatrium’s yard footprint in Indonesia” at the group’s larger yard on Batam Island. The Karimun assets were sold on an “as is, where is” basis and had previously been fully written down.
- Crescent Yard (Singapore): Expected to complete by Q1 2026 for S$12.5 million in cash, following an option exercised by Mooreast.
The group has earmarked additional non-core assets for future sale to further optimise its cost structure, it said.
Shares of Seatrium closed flat on Friday at S$2.16.
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