Singapore – 14 August 2025 – Seatrium Limited has signed a Letter of Intent (LOI) with Karpowership to integrate four next-generation Powerships and convert three LNG carriers into Floating Storage and Regasification Units (FSRUs), with work beginning in early 2027. The deal includes options for two additional Powerships.
Karpowership will supply the hulls and key equipment to Seatrium’s Singapore yard, where the company will handle mechanical and electrical work, integration, and pre-commissioning. The FSRU conversions will involve installing regasification modules, mooring systems, and key support infrastructure.
Seatrium EVP Alvin Gan said the agreement strengthens its position in global floating power infrastructure, while Karpowership CTO Gokhan Kocak highlighted the modular design of its 3rd Generation Powerships, enabling integration of advanced technologies such as CCUS to reduce environmental impact.