On February 2, Singapore-based offshore engineering vessel manufacturer Seatrium announced via its official website that it had completed the sale of its AmFELS shipyard on January 30, 2026. The transaction was valued at S$65 million (approximately US$47 million). All projects undertaken by the shipyard were delivered prior to the closing of the deal.
AmFELS Shipyard, located in Brownsville, Texas, USA, was sold by Seatrium AmFELS, a subsidiary of Seatrium. The buyer is Karpower Valley, an affiliate of Karpowership, a Turkish power shipbuilder and shipowner.
It is reported that Seatrium has collaborated with Karpowership on several occasions, undertaking ship conversion projects for the company. These include converting next-generation floating power generation vessels and liquefied natural gas (LNG) carriers into floating storage and regasification units (FSRUs), among other related initiatives.
Seatrium previously stated that the sale of the AmFELS shipyard represents a value-enhancing asset divestiture that will improve the company’s capital and operational efficiency while unlocking the potential value of underutilized facilities.
Following the completion of this asset divestiture, Seatrium will restructure its U.S. strategic footprint. Through its Technology Center and Office in Houston, Texas, and Service Center in Vicksburg, Mississippi, the company will intensify its focus on engineering innovation and technical capabilities to meet evolving customer demands.
Notably, AmFELS Shipyard has just delivered the FREDERICK PAUP, the largest self-propelled cutter suction dredger in U.S. history. Ordered in 2020, the vessel took at least five years to build.
The “FREDERICK PAUP” measures 420 feet in length overall, 81 feet in beam and 32.5 feet in depth. With a design draft of 31.02 feet, it carries a deadweight tonnage of 16,870 tons and is designed for a service speed of 14 knots. Its hopper capacity exceeds 15,000 cubic yards. Classed by American Bureau of Shipping (ABS), the vessel was specifically designed and constructed to meet the demands of the U.S. dredging market.
Seatrium Limited delivers innovative engineering solutions to the global offshore, marine and energy industries. Headquartered in Singapore, the Group boasts a track record of over 60 years in the design and construction of rigs, floaters, offshore platforms and specialised vessels, as well as the repair, upgrading and conversion of various ship types.
Its core business segments cover Oil & Gas Newbuilds and Conversions, Offshore Renewables, Repairs & Upgrades, and New Energies, with an increasing focus on sustainable solutions to drive the global energy transition and maritime decarbonisation.
The Group operates shipyards, engineering & technology centres and related facilities across Singapore, Brazil, China, India, Indonesia, Japan, Malaysia, the Philippines, Norway, Saudi Arabia, the United Arab Emirates, the United Kingdom and the United States.