Seatrium and Karpowership eye Southeast Asia floating infrastructure push

Singapore’s Seatrium and Turkey’s Karpowership are seeking to form a joint venture to develop floating power and digital infrastructure solutions in Singapore, with plans to expand into the wider Southeast Asian market.

Potential projects include powerships, floating data centres, turbine-based and hybrid vessels, and even floating nuclear power solutions.

The partners aim to establish an integrated platform covering infrastructure development, financing, engineering, construction, and operations.

The companies will advance discussions on forming the joint venture over the coming months, subject to definitive agreements and regulatory approvals. Karpowership currently operates a fleet of 45 floating power plants.

“As demand for power and digital infrastructure accelerates, our industry has an opportunity to develop new solutions that combine speed of deployment, flexibility and scale,” said Seatrium chief executive Chris Ong.

The move comes as Singapore seeks to strengthen its energy security while meeting growing electricity demand from data centres, semiconductor manufacturing and other energy-intensive industries. The country currently relies on imported natural gas for around 95% of its electricity generation.

The proposed venture significantly expands the existing relationship between Seatrium and Karpowership, established in 2018.

Seatrium has since completed seven FSRU conversions for Karpowership and secured two additional conversion projects this year.

Earlier this month, Seatrium also landed a contract to convert and integrate five third-generation hydrogen-ready Whale Class Powerships, each capable of generating up to 600MW of electricity. The first vessel is scheduled to arrive at Seatrium’s Tuas Boulevard yard in December 2027.

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