Seatrium exits tugboats amidst $50m cost-cutting drive
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Seatrium Limited has divested its fleet of 17 tugboats in Singapore for $104 million as part of a $50 million cost-cutting initiative. The sale, completed on April 24, 2026, was made through Seatrium Marine Services Pte. Ltd. and includes a towage services agreement with KST Maritime. This divestment is part of a broader strategy involving multiple asset disposals, including the AmFELS yard in Texas and other vessels, aimed at enhancing operational efficiency.
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