USD 475 Million WTIV Dispute Pushes Seatrium, Maersk Offshore Wind to Arbitration Table

Singapore’s Seatrium has received a notice of arbitration from Maersk Offshore Wind concerning the dispute over the termination of a contract for a wind turbine installation vessel (WTIV), planned to be deployed on Equinor’s Empire Wind offshore wind project in the US.

Seatrium Energy International (SEI) received a notice of termination for the USD 475 million contract on 9 October. At that time, the vessel was 98.9 per cent completed. Upon completion, the WTIV was planned to be deployed on Equinor’s New York offshore wind project.

On 12 October, SEI responded to Maersk Offshore Wind by rejecting the notice of termination and said that the company was in repudiatory breach of the contract and that SEI “reserved all its rights against the buyer for wrongful termination”.

On 20 October, SEI gave notice to the buyer that the WTIV would be delivered by 30 January 2026.

Just one day after that, SEI received a notice of arbitration from Maersk Offshore Wind.

The Singaporean company said that the notice of arbitration asserts that disputes have arisen between the parties of the contract and that such disputes are to be referred to arbitration in London in accordance with the current London Maritime Arbitrators Association.

“SEI is taking legal advice and will vigorously prosecute its position and defend any claims that may be brought by the Buyer,” added the company.

Follow offshoreWIND.biz on: