Singapore Technologies Engineering has announced that its US subsidiary VT Halter Marine has gone into arbitration proceedings with Hornbeck Offshore Services.
The arbitration revolves around a dispute arising from a vessel construction agreement between the two parties in November 2011, for the design and construction of certain vessels by VT Halter Marine for Hornbeck.
Hornbeck is claiming damages of $43.5m against VT Halter Marine alleging that the vessels constructed had a errors in both design and construction.
ST Engineering said VT Halter Marine has asserted counterclaims against Hornbeck for approximately $3.3m and will continue to vigorously defend its position.