Karpowership partners with Seatrium to enhance its fleet with five Whale Class floating power plants by 2026.
Karadeniz Holding's international energy brand Karpowership has signed a contract with Singapore-based maritime and offshore engineering company Seatrium for the conversion and integration of five new Whale Class floating power plants, aimed at expanding its fleet.
Under the agreement announced on October 23, 2026, Seatrium will carry out comprehensive conversion works for Karpowership's third-generation, hydrogen-ready Whale Class floating power plants.
The next-generation vessels, each with an electricity generation capacity of up to 600 megawatts (MW), are being developed to provide rapid solutions to the energy needs of different countries.
The first vessel is expected to arrive at the shipyard in December 2027.
As part of the agreement, Seatrium will undertake equipment integration, mechanical completion, and pre-commissioning preparations for the five floating power plants.
According to a joint statement from the companies, engineering work on the projects has begun. The first vessel of the series is targeted to reach Seatrium's Tuas Boulevard Shipyard in Singapore in December 2027.
The conversion and integration processes of the vessels will be carried out using Seatrium's technical capabilities in maritime engineering and offshore facilities.
Karpowership's next-generation Whale Class vessels will be equipped with multi-fuel electricity generation systems that are ready for hydrogen use.
Thanks to the integrated transformer stations on board, the electricity generated can be directly transferred to national electricity grids.
The floating power plants developed by the company with a plug-and-play model can start electricity production in as little as 30 days, provided that the necessary connection and infrastructure conditions are met.
Whale Class represents Karpowership's highest capacity floating power plant class. Each of the new generation vessels is designed to generate electricity that can be fed into the grid at up to 600 MW.
The strategic partnership between Karpowership and Seatrium dates back to 2018.
To date, Seatrium has completed the conversion of seven LNG storage and regasification vessels (FSRU) for Karpowership. The eighth and ninth FSRU conversion projects have also been contracted for 2026.
The new Whale Class agreement is a continuation of the letter of intent signed in August 2025. This letter of intent anticipated the conversion of three FSRUs and the integration of up to six new generation floating power plants.
With the latest contract, the conversion and integration of five Whale Class vessels have been finalized.
Alvin Gan, Vice President of Repair and Modernization at Seatrium, stated that the agreement represents an important milestone for the company.
Gan expressed that this is Seatrium's first large-scale conversion and integration project for Karpowership's Whale Class vessels.
He noted that the company's experience in complex ship conversions and offshore engineering will be transferred to Karpowership's new generation floating energy solutions.
Gökhan Koçak, Chief Executive Officer responsible for Technical Operations at Karpowership, reported that the new agreement further advances the long-term partnership between the two companies.
Koçak stated that the Whale Class floating power plants reflect Karpowership's goals in innovation, operational excellence, and energy supply security.
He emphasized the importance of Seatrium's experience in complex ship integration for new generation fleet investments.
Karpowership is conducting projects that enable the rapid deployment of electricity generation capacity in various countries through floating power plants.
The new Whale Class vessels are also planned to be used to strengthen energy supply security and meet the increasing electricity demand.
The new agreement for five vessels constitutes the latest phase of Karpowership's investments in high-capacity floating power plants.
The financial magnitude of the agreement and the delivery schedule for all five vessels were not disclosed in the companies' announcement.
Source: SeaNews Türkiye
