Seatrium avoids prosecution in Brazilian corruption case with $110m settlement

The agreement, signed with Singapore’s Public Prosecutor in July 2025, was formally approved this month with no changes to its terms. Under the deal, Seatrium will pay a financial penalty of S$140.3m (about $110m). Payments already made to Brazilian authorities — up to $53m — will be offset against the total, leaving roughly $57m payable in Singapore.  The company said it has already made provisions for the settlement in its 2025 accounts, meaning no material impact is expected on its 2026 earnings or balance sheet.

A DPA allows prosecutors to suspend criminal charges in exchange for financial penalties and commitments to strengthen compliance. If Seatrium fails to meet the terms, authorities retain the option to revive prosecution.

The case stems from Brazil’s Operation Car Wash investigation, which uncovered widespread bribery linked to contracts with state oil company Petrobras. Seatrium, formerly Sembcorp Marine, was drawn into the probe over allegations that improper payments were made to secure projects in Brazil. Investigations into the company ran across multiple jurisdictions, including Singapore and Brazil. Seatrium had earlier reached a leniency agreement with Brazilian prosecutors as part of a broader settlement framework.  In Singapore, the Corrupt Practices Investigation Bureau also examined the case, while a separate probe by the Monetary Authority of Singapore and the Commercial Affairs Department into potential securities law breaches concluded with no action taken against the company or its officers.   The wider fallout has not been limited to the corporate level. In March 2024, two former executives linked to the business were charged in Singapore over alleged bribery payments tied to Brazilian contracts.

The High Court’s approval of the DPA now brings a level of closure for Seatrium, allowing the yard group to move on from a case that has hung over it for years.