Seatrium completes Crescent Yard divestment as Mooreast closes acquisition

Transactions closed on 11 March.

Seatrium has completed the divestment of its Crescent Yard in Singapore, whilst Mooreast Holdings has completed the acquisition of the property at 60 Shipyard Crescent, with both transactions closing on 11 March.

Seatrium said the Crescent Yard sale, together with other non-core asset divestments disclosed earlier, is expected to deliver more than $50m in annualised cost savings upon completion.

Mooreast said operations at the new facility are expected to start by the third quarter of 2026. It said the site will support the fabrication of high-value subsea foundations and serve as a logistics hub for equipment and block assembly.

The group said the acquisition will quadruple production capacity, lifting its ability to support floating offshore wind projects to between 1.5 GW and 2 GW a year from 0.5 GW currently. It also said the site’s 865-metre waterfront will allow its yard division to expand its customer base from specialist vessels to offshore rigs.

Mooreast had separately announced that the purchase of 60 Shipyard Crescent, including the existing plant, equipment, and machinery on the property, was completed by its wholly owned subsidiary, Mooreast Asia, on 11 March.

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