Seatrium, Karpowership partner on powership, FSRU conversions

From left to right – Mr. Chris Ong, Chief Executive Officer, Seatrium, Mr. Gokhan Kocak, Chief Technical Operations Officer, Karpowership, Mr. Alvin Gan, Executive Vice President, Repairs & Upgrades, Seatrium and Mr. Orhan Remzi Karadeniz, Chief Executive Officer, Karpowership. (Photo Credit: Seatrium)

Seatrium Limited announced August 14 the signing of a Letter of Intent (LOI) with Karpowership, a global energy company and the owner, operator, and builder of the world’s largest powership (floating power plant) fleet.

The milestone agreement, signed in Singapore, further deepens the strategic partnership between Seatrium and Karpowership and reinforces both companies’ shared commitment to advancing sustainable, mobile and scalable maritime energy solutions. The collaboration reflects Seatrium’s growing role in the global floating power infrastructure space, supporting energy access in underserved regions and enabling flexible deployment of power assets that can be harnessed in a myriad of ways—from powering remote communities and industrial operations to supporting data centers, and transitional energy hubs.

Under the LOI, Seatrium will carry out the integration of four new generation powerships, with an option for two additional units. Karpowership will deliver the hulls and key equipment for the four powerships to Seatrium Singapore, where integration works will begin in the first quarter of 2027. Seatrium’s scope of work includes mechanical and electrical, equipment integration, mechanical completion, and pre-commissioning.

The agreement also includes the conversion, life extension and repairs of three LNG carriers into Floating Storage and Regasification Units (FSRUs). This involves the installation of regasification modules, spread-mooring systems, and the integration of critical supporting systems such as cargo handling, offloading, utility, electrical, and automation systems.

Alvin Gan, executive vice president, repairs and upgrades, Seatrium, said, “This LOI marks a pivotal step in our journey to build a global franchise in floating power infrastructure. Our successful collaboration with Karpowership goes beyond FSRU conversions—it’s about enabling energy access through innovative maritime platforms. With four FSRUs delivered, a fifth due later this month, and two more underway, we are proud to be a long-term trusted partner in delivering greener energy and sustainable solutions; through a variety of innovative solutions in new generation powerships, FLNGs, floating battery, floating data centers and water de-salination vessels. These projects demonstrate our engineering excellence and our commitment to supporting the energy transition.”

“We are proud to deepen our long-term partnership with Seatrium as we continue to grow our powership and FSRU fleet to meet evolving global energy needs,” said Gokhan Kocak, CTO officer, Karpowership. “Seatrium’s consistent performance, engineering excellence, and technical strength make it a trusted partner in our ongoing mission to provide reliable and sustainable energy solutions worldwide. As part of this effort, we are developing our third generation powerships with a modular system that can be adapted based on project needs.

“The new design will allow for the integration of advanced technologies such as CCUS (Carbon Capture, Utilization and Storage) systems or turbines when required. By combining our expertise in design, engineering, and construction with cutting-edge innovation, we aim to reduce our environmental impact while delivering flexible and reliable energy solutions. We look forward to many more years of close collaboration and shared success.”

This LOI underscore Seatrium’s strategic ambition to play a leading role in the future of distributed and sustainable energy.