February 27, 2017 / 1:57 PM / 5 months ago

BRIEF-Singapore Technologies Engineering updates on arbitration involving U.S. marine unit

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Feb 27 (Reuters) - Singapore Technologies Engineering Ltd :

* St Engineering's U.S. marine subsidiary involved in arbitration proceedings

* Out of damages claimed, amount that was initially quantified by Hornbeck was about US$15.2m

* Vt Halter Marine has asserted counterclaims against Hornbeck for approximately us$3.3m

* Arbitration proceedings involve issues and disputes arising from a vessel construction agreement dated 14 nov 2011

* Hornbeck claimed damages against Vt Halter Marine on basis that vessels constructed had alleged errors in design and construction Source text for Eikon: Further company coverage:

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