Seatrium and Karpowership Sign MoU for Floating Infrastructure in Singapore
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- sea trade maritimeSeatrium, Karpowership to develop floating power for Singapore
- splash 247Seatrium and Karpowership eye Southeast Asia floating infrastructure push
- prnewswireSeatrium and Karpowership to Jointly Develop Floating Power Solutions and Digital Infrastructure, Supporting Singapore and Southeast Asia's Energy Resilience
Singapore-based offshore engineering group Seatrium and Karpowership, the world's largest operator of floating power plants, signed a Memorandum of Understanding (MoU) to move toward a joint venture that will develop floating energy and digital infrastructure solutions in Singapore, with potential expansion across the rest of Southeast Asia.
A deal announced at SIEW 2026
The announcement was made during Singapore International Energy Week 2026 and was witnessed by Singapore's Minister for Trade and Industry, Dr. Tan See Leng. Under the agreement, the companies plan to create an integrated platform spanning infrastructure development, financing, engineering, construction and operations, with solutions that could include Powerships, floating data centers, turbine or hybrid vessels, and even floating nuclear units.
Executives weigh in
Chris Ong, CEO of Seatrium, noted that the collaboration combines the company's offshore engineering heritage, its systems integration capabilities and its advanced facilities in Singapore with Karpowership's expertise in floating power, positioning both firms to capture opportunities across the entire energy infrastructure value chain. Orhan Remzi Karadeniz, CEO of Karpowership, stated that reliable access to power is becoming a decisive factor in industrial investment decisions and described the initiative as a new strategic chapter in the relationship between the two companies.
Singapore's energy context
The move comes as Singapore, which draws approximately 95% of its electricity from imported natural gas, projects peak electricity demand growth of up to 11.4 gigawatts by 2031, driven by transport electrification, semiconductor manufacturing and data center expansion. Karpowership currently operates a fleet of 45 Powerships worldwide.
A relationship dating back to 2018
The relationship between the two companies dates back to 2018, during which Seatrium delivered seven FSRU conversions to Karpowership, with an eighth and ninth unit awarded this year. In addition, Seatrium secured a contract in October to integrate Karpowership's third-generation, hydrogen-ready Whale Class Powerships; according to Splash247, these are five units with capacity of up to 600MW each, with the first vessel expected to arrive at Seatrium's Tuas Boulevard Yard in December 2027. The parties are seeking to move toward definitive joint venture agreements in the coming months, subject to the necessary approvals.
