Keppel files for $68.4m claim against Seatrium over Brazil corruption probe

Keppel previously made an $82.4m claim in 2024, which Seatrium contested.

Keppel Ltd. has announced that arbitration proceedings against Seatrium will commence for a $68.4m claim related to Brazil’s corruption probe, Operation Car Wash.

In 2022, Seatrium agreed to indemnify Keppel against claims related to the corruption investigation by Brazilian authorities.

Keppel Offshore & Marine Ltd. and Seatrium, formerly known as Sembcorp Marine Ltd., officially merged in February 2023.

In July 2025, Seatrium announced that it is required to pay an aggregate final settlement payment of $168.4m (BRL728.9m) to the Brazilian authorities as part of the leniency agreements related to the probe.

Keppel said in a bourse filing on 26 August that Seatrium was due to pay $68.4m to Keppel upon its signing of final leniency agreements, under the terms of indemnity it agreed to before.

Keppel had previously issued a notice of claim for the $82.4m sum in 2024, which Seatrium had contested.

Also on 26 August, Seatrium responded that it received the notice of arbitration from Keppel, which has been filed with the Singapore International Arbitration Centre. Seatrium said it is reviewing the claims and allegations and “will defend the arbitration claim vigorously”.

Seatrium also noted that the obligation to pay Keppel expired in February 2025, and there were no binding and legally enforceable agreements signed with the Brazilian authorities before that.