---
title: "Seatrium exits tugboats amidst $50m cost-cutting drive"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/284139749.md"
description: "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."
datetime: "2026-04-27T02:10:46.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/284139749.md)
  - [en](https://longbridge.com/en/news/284139749.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/284139749.md)
---

# Seatrium exits tugboats amidst $50m cost-cutting drive

**This links multiple disposals across yards, vessels, and dock assets.**

Seatrium Limited has completed the divestment of its fleet of 17 tugboats in Singapore on 24 April, as part of a broader programme expected to deliver more than $50m in annualised operational cost savings, according to a press release.

The fleet was sold for $104m through its subsidiary, Seatrium Marine Services Pte. Ltd., under a binding agreement signed on 29 January 2026, with KST Maritime Pte. Ltd. and Maju Maritime Pte. Ltd., both third-party towage service providers.

Seatrium has also entered into a towage services agreement with KST Maritime to support its Singapore shipyards, shifting towage operations to an outsourced model.

The divestment follows an earlier announcement in February on a series of non-core asset disposals, including the AmFELS yard in Texas and GNL platform supply vessels.

Other divestments include the sale of the Can-Do 2 floating dock for about $16.9m to Winter Park Trading – F.Z.E, and the Karimun Yard for $22m to PT Tirta Segar Alami.

Seatrium has also agreed to divest Crescent Yard in Singapore for $12.5m, following the exercise of an option granted to Mooreast Holdings Ltd.

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