On November 3, Singapore-based offshore vessel manufacturer Seatrium announced that it had signed a binding agreement with Brazilian shipping operator Posidonia Shipping and Trading to sell 100% of the equity of its indirectly wholly-owned subsidiary, Guanabara Navegação Ltda (GNL).
GNL, as a special purpose entity, holds two platform supply vessels (PSVs). Posidonia Shipping and Trading is an unrelated third party.
According to information disclosed by Haiting, the total consideration for this transaction amounts to approximately US$59.7 million (approximately S$77.4 million). This value-enhancing asset divestiture aligns with the group’s strategic intent, aiming to enhance capital and operational efficiency by shedding non-core assets and thereby create long-term value for shareholders.
Seatrium further emphasized that the transaction is not expected to impact the Group’s operations and will be completed before the end of the current fiscal year.
In related news, Seatrium has recently secured a series of vessel repair and upgrade contracts valued at approximately S$170 million, covering projects for large cruise vessels, leisure vessels, and naval vessels. All deliveries are expected to be completed by the first quarter of 2026.
Seatrium Limited provides innovative engineering solutions to the global offshore, marine and energy industries. Headquartered in Singapore, the Group has over 60 years of track record in the design and construction of rigs, floaters, offshore platforms and specialised vessels, as well as in the repair, upgrading and conversion of different ship types.
The Group’s key business segments include Oil & Gas Newbuilds and Conversions, Offshore Renewables, Repairs & Upgrades, and New Energies, with a growing focus on sustainable solutions to advance the global energy transition and maritime decarbonisation.