Singapore, 22 January 2026 — Seatrium Limited says its wholly owned subsidiary Seatrium New Energy Limited (SNE) and consortium partner Aibel AS have filed for arbitration under their 3 May 2019 agreement for DolWin 5, a 900MW converter platform project for end-customer TenneT Offshore GmbH.

The group says the contract was secured pre-merger, sits outside TenneT’s 2GW programme, and is unrelated to the four HVDC units in its order book. The platform is based on Aibel’s design for the DolWin cluster in the German sector of the North Sea wind farm, is currently in Germany’s North Sea, and work continues with delivery targeted in 2026.

Following discussions, the parties submit their respective requests to the Arbitration Institute of the Stockholm Chamber of Commerce (SCC), seeking resolution by an independent tribunal. Under the agreement, work is split between “direct” scopes performed individually and a “joint” scope delivered together.

Seatrium Limited says SNE completes its direct scope in Singapore and the platform sails from SNE’s Singapore yard in October 2023 to Aibel’s facility for the Haugesund phase. The parties also agree that, after sailaway, Aibel is responsible for items within Seatrium’s direct scope that remain incomplete due to a late design freeze.

The partners assert claims against each other over alleged breaches tied to direct scopes and disagreements on the allocation of responsibilities, while also disputing revenue and cost distribution for the joint scope. They make demands against each other for sums in the region of EUR180 million (SNE) and EUR113 million (Aibel). Based on preliminary advice received by SNE, any valid direct-scope claims are to be satisfied from reserved consortium funds limited to about EUR5 million, without further financial exposure beyond that for the respective parties. Aibel also claims about EUR17 million to be contributed by SNE for matters it considers within joint scope.