Seatrium, a Singapore-based offshore engineering shipbuilder, has sold another shipyard. On March 9, Seatrium announced the completion of the sale of Karimun Yard located on Karimun Island, Indonesia. The transaction was executed through PT Karimun Sembawang Shipyard, a subsidiary of Seatrium.
Previous reports indicate that the buyer of Karimun Yard is PT Tirta Segar Alami, an affiliate of the Salim Group. The transaction price is S$22 million, paid in cash, with the shipyard transferred “as is.”
The Salim Group is one of Indonesia’s largest and Southeast Asia’s most influential family-owned diversified multinational conglomerates. Founded in October 1972 and headquartered in Jakarta, the Group’s core business lies in food and agriculture, having expanded into retail, automotive, finance, real estate, energy, infrastructure, shipping, and marine engineering.
The acquisition of Karimun Shipyard marks the Salim Group’s formal entry into the ship repair and offshore engineering sector, reportedly aimed at consolidating Southeast Asia’s shipping support capabilities.
Seatrium stated that Karimun Yard is a non-core asset, and its sale will enhance capital and operational efficiency while unlocking the value of idle facilities. Seatrium’s shipyard operations in Indonesia have been consolidated at the larger Batam shipyard, which remains a strategic facility supporting regional operational needs.
Records indicate that Karimun Yard, located on Karimun Island in Indonesia, traces its history back to 1994. It was initially established as a joint venture between Sembcorp Marine (now renamed Seatrium) and local Indonesian enterprises, later becoming a wholly-owned shipyard under Sembcorp Marine. Following the 2022 merger of Sembcorp Marine and Keppel Offshore & Marine, which resulted in the renaming to Seatrium, Karimun Yard was integrated under Seatrium’s operations.
Karimun Yard covers an area of approximately 30.7 hectares and features a dry dock, multiple repair berths, a steel fabrication workshop, and painting/sandblasting facilities. Its primary operations include floating dry dock repairs, steel structure manufacturing, construction of multi-purpose barges/workboats, and tanker tank cleaning/sludge removal. In recent years, the yard’s operations have steadily contracted. Most land leases will expire in September 2026, and ongoing projects have been transferred to the shipyard in Batam.
According to Seatrium’s asset divestment plan announced several days ago, in addition to Karimun Yard, Seatrium will also sell 17 tugboats, Singapore’s Crescent Shipyard, and the Can-Do 2 floating dock for S$104 million, S$12.5 million, and S$16.9 million respectively. All transactions are scheduled for completion in the first quarter of 2026, which will save Seatrium over S$50 million in annualized operating costs.
Earlier, Seatrium announced the sale of its U.S.-based AmFELS Yard and two platform supply vessels as part of its non-core asset divestment plan. The sale of AmFELS Yard was fully completed on January 30, 2026, for a transaction consideration of S$65 million. All projects undertaken by the shipyard were delivered prior to the closing.
Seatrium stated that the asset divestiture initiative marks an acceleration of its portfolio optimization strategy, aimed at streamlining cost structures, enhancing asset utilization, and strengthening competitive advantages. By refining its asset portfolio and strategically positioning its global network of shipyards, engineering centers, and facilities, Seatrium will adopt a more agile operational model to seize emerging opportunities and create sustainable long-term value for stakeholders.
Currently, Seatrium operates shipyards, engineering technology centers, and related facilities in Singapore, China, Brazil, India, Indonesia, Japan, Malaysia, the Philippines, Norway, Saudi Arabia, the United Arab Emirates, and other countries.