Seatrium divests non-core assets to save over 50 million Singapore dollars by early 2026

SGX Filings

Feb 23

Seatrium (S51) said on Feb, 23 2026 that it will achieve more than 50 million Singapore dollars in annual operational cost savings by early 2026 through a fresh round of non-core asset disposals.

The group has sold 17 Singapore-based tugboats for 104 million Singapore dollars to KST Maritime Pte. Ltd. and Maju Maritime Pte. Ltd., with completion targeted for the first quarter of 2026. Seatrium has also signed a long-term towage services agreement with KST Maritime to cover its future needs under an outsourced model.

In addition, Seatrium divested its Can-Do 2 floating dock for about 16.9 million Singapore dollars to Winter Park Trading – F.Z.E; the cash transaction is scheduled to close by the first quarter of 2026.

The company has agreed to sell its Karimun Yard on Karimun Island, Indonesia, to PT Tirta Segar Alami for 22 million Singapore dollars, with completion also expected by the first quarter of 2026.

Seatrium expects to finalise the previously announced sale of its Crescent Yard in Singapore for 12.5 million Singapore dollars to Mooreast Holdings Ltd. by the first quarter of 2026.

The latest disposals follow earlier sales of the AmFELS yard in Texas and GNL platform supply vessels announced in 2025, all of which form part of Seatrium’s strategy to streamline its asset base, enhance cost efficiency and focus on core businesses. The group said it continues to assess further divestment opportunities to bolster long-term resilience.

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