Singapore’s Seatrium has launched arbitration proceedings against an affiliate of Maersk Offshore Wind, escalating a contract dispute over a wind turbine installation vessel (WTIV) that Maersk sought to terminate in October, the shipbuilder said.
Seatrium Energy International (SEI) issued its notice of arbitration on 28 November, seeking declarations that Maersk’s affiliate Phoenix II A/S wrongfully terminated the contract on 9 October and that the agreement remains valid and binding. SEI is also asking an arbitral tribunal to order Maersk to take delivery of the vessel on 30 January 2026 and pay the delivery instalment due under the contract, or alternatively award damages.
Seatrium said that under the contract, 80 per cent of the vessel’s price is payable upon delivery, which is a legacy arrangement predating the merger that formed Seatrium and the only contract in the group’s order book not structured with milestone payments. The company said the financial impact will depend on the eventual outcome of the arbitration.
The counter-action follows Maersk Offshore Wind’s earlier notice of arbitration on 21 October, issued one day after SEI told the buyer it intended to deliver the WTIV by 30 January. According to Seatrium, the buyer’s arbitration notice did not specify the nature of its claims.
Maersk had terminated the USD 475 million (approximately EUR 409 million) WTIV contract on 9 October for a vessel intended for deployment at the Empire Wind 1 offshore wind farm in the United States.
SEI rejected the termination on 12 October, accusing the buyer of repudiatory breach and reserving all rights. The company says it continued exploring options to complete and potentially deliver the vessel directly to the end customer, Empire Offshore Wind LLC.
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