Seatrium's (SGX:5E2) subsidiary, Seatrium New Energy, and its consortium partner, Aibel AS, mutually agreed to file arbitration proceedings in relation to a consortium agreement linked with an offshore converter platform project named DolWin 5.

Under the consortium agreement, Seatrium Energy fulfilled its direct scope, while Aible was unable to achieve timely design freeze, with multiple changes to its design.

Therefore, the parties mutually agreed to file respective requests for arbitration to the Arbitration Institute of the Stockholm Chamber of Commerce.

Both parties have made demands each other, with Seatrium Energy claiming 180 million euros, while Aibel claiming 113 million euros.

Moreover, Abel is claiming 17 million euros, maintaining that certain matters fall within the joint scope of the parties, which Seatrium Energy is contesting.