Singapore marine engineering group Seatrium and Turkish energy company Karpowership have signed a memorandum of understanding to pursue a Singapore-based joint venture focused on floating power and digital infrastructure, according to a company statement.
The proposed venture would bring together development, financing, engineering, construction and operations, with potential projects including Powerships, floating data centres, turbine or hybrid vessels and floating nuclear solutions.
The companies have not yet established the joint venture. They plan to continue negotiations in the coming months, with formation subject to definitive agreements and the necessary approvals.
The agreement was unveiled during Singapore International Energy Week 2026 and builds on cooperation between the companies dating to 2018. Seatrium has delivered seven FSRU conversions for Karpowership, while an eighth and ninth project were ordered in 2026.
The companies also signed a contract on 23 October covering five Whale Class Powerships.
Seatrium Limited is a Singapore-headquartered engineering group serving the offshore, marine and energy industries. Its activities include offshore and marine newbuilds and conversions, repairs and upgrades, offshore wind, carbon capture and storage, and other energy infrastructure.
Karpowership is a Turkish energy group active in floating power generation, LNG infrastructure, renewable energy and onshore power. The company develops, owns and operates Powership floating power plants and provides LNG-related infrastructure and services.
