Karpowership doubles down on Seatrium for floating power

Turkey’s Karpowership has announced a significant collaboration with Singapore-based shipyard group Seatrium, aimed at enhancing floating power infrastructure. The partnership includes plans for new powership integrations and the conversion of LNG carriers into floating storage and regasification units (FSRUs). This initiative marks a pivotal expansion in the companies’ ongoing relationship.

New Powership Integrations Set for 2027

Under a recently signed letter of intent, Seatrium will integrate four next-generation powerships at its Singapore facility, with the potential addition of two more units. Karpowership will supply the hulls and primary equipment necessary for this project. Work is scheduled to commence in the first quarter of 2027, signifying a strategic move for Karpowership, which currently boasts the world’s largest fleet of floating power plants.

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Karpowership operates 50 powerships, collectively generating a capacity of 10,000 megawatts. The company is also advancing its technology by developing modular third-generation units designed to incorporate carbon capture systems and other innovative features. This commitment to technological advancement is part of Karpowership’s broader vision of establishing a global presence in floating power solutions.

Transforming LNG Carriers into FSRUs

In addition to the powership integrations, Seatrium will convert three LNG carriers into FSRUs as part of this collaboration. This project reinforces Seatrium’s growing expertise in the field, having previously delivered four FSRU projects for Karpowership. A fifth project is expected to be completed this month, with two more currently in development.

Alvin Gan, executive vice president of repairs and upgrades at Seatrium, emphasized the significance of the letter of intent, stating, “This LOI marks a pivotal step in our journey to build a global franchise in floating power infrastructure.” This partnership not only strengthens the capabilities of both companies but also enhances their roles in the evolving energy landscape.