Seatrium stock inches up as Petrobras arbitration reopens P-54 payment fight
Seatrium shares rose 0.5% to S$2.10 after its Jurong Shipyard unit began arbitration against Petrobras Netherlands over a withheld US$55.7 million payment tied to a 2004 FPSO contract. Petrobras is seeking a net US$79.6 million in alleged overpayments. Seatrium said the financial impact is uncertain. Arbitration is underway in London.