Discrepancies in the cooperation project: Seatrium and Aibel seek arbitration for resolution | Lianhe Zaobao

Seatrium has encountered differences with its partners regarding project execution and is seeking arbitration from both sides. Each party has filed claims based on the joint agreement concerning breaches of direct work scope and disputes over the division of responsibilities. Seatrium will take legal action to protect its rights and will vigorously defend against claims made by the partner company when necessary. On Thursday (January 22), Seatrium disclosed before the stock market opened that its subsidiary Seatrium New Energy (SNE) and partner Aibel AS have submitted arbitration requests to the Stockholm Chamber of Commerce regarding differences in the execution of the DolWin 5 project. SNE and Aibel signed a joint agreement on May 3, 2019, to jointly design, engineer, procure, construct, install, and commission a 900-megawatt offshore converter platform. This offshore converter platform is based on Aibel's design for the DolWin cluster project in the German sector of the North Sea. The platform is currently located in the North Sea off Germany, and despite the initiation of litigation, all parties are still advancing the project construction, which is scheduled for delivery in 2026. To implement the project, the joint agreement divides the work scope into direct responsibilities to be performed individually by each party and a joint scope to be performed collaboratively by both parties. The announcement stated that although Aibel failed to complete the design in a timely manner due to multiple design modifications, SNE has completed its responsible direct work scope and set sail from a Singapore shipyard in 2023 to Aibel's facilities for the next phase of construction. Further Reading Seatrium Consortium Secures Major Contract to Provide Offshore Grid Connection for TenneT in the German North Sea [6 Billion Contract Terminated by Maersk-Related Company, Seatrium Initiates Arbitration ![](https://dss0.zbstatic5.com/s3fs-public/styles/article_small_crop/public/articles/2025/11/30/Seatrium20-20Overview20of20Seatrium20Tuas20Boulevard20Yard_2.jpg? Both parties also jointly agreed that after the vessel departs, the direct work scope not completed by SNE due to Aibel's design delays will be the responsibility of Aibel. According to the joint agreement, both parties will claim compensation from each other for breaches of contract related to the direct work scope and disputes regarding the division of responsibilities among the parties involved. The claim amounts from SNE and Aibel are €180 million (approximately SGD 270 million) and €113 million, respectively. Aibel believes that certain matters fall under the shared responsibility of both parties and asserts that SNE should bear approximately €17 million of the contribution amount. SNE has raised objections regarding the validity and basis of this claim and has counterclaimed for the court to issue a declaration to clarify the obligations and responsibilities of both parties under the joint agreement. The arbitration process is in its preliminary stages, and Seatrium is currently unable to determine the impact on the company's finances, and will notify shareholders of any significant developments. As of 10:30 AM on Thursday, Seatrium's stock price remained at SGD 2.13