The shipyard claims the validity of the agreement and demands that the ship, almost completed, be nonetheless accepted and paid upon delivery
New York – The legal dispute between Maersk Offshore Wind and Seatrium has intensified after the cancellation of the contract for a Wind Turbine Installation Vessel (WTIV) ordered in 2022 from the then Sembcorp Marine. On October 9, Maersk communicated the termination of the contract and, on October 21, initiated arbitration against Seatrium Energy International (SEI), the day after the Singapore group had rejected the termination and announced its intention to deliver the vessel on January 30, 2026 according to the original terms.
On November 28, Seatrium filed its own arbitration claim against Phoenix II, an affiliate of Maersk Offshore Wind. The arbitration demands that the cancellation be declared illegitimate, the full validity of the contract be affirmed, and the buyer be obligated to accept the unit on the scheduled date, paying the due installment or, alternatively, compensation.
Seatrium argues that Maersk’s conduct demonstrates an intention to abandon the contract, noting that the WTIV is 98.9% complete and that Maersk has so far paid only 20% of the total price of $475 million. The contract, predating the merger that led to the creation of Seatrium, indeed stipulates that 80% of the value be paid upon delivery, unlike the usual formulas with progressive payments.
The vessel was intended for the Empire Wind 1 offshore wind farm, a $5 billion project off Long Island developed by Equinor. The initiative had been suspended by President Trump in April, then gradually resumed from May.
