Seatrium Limited, a company based in Singapore, has intensified its legal dispute with Maersk Offshore Wind by filing a notice of arbitration against the Danish shipping company’s affiliate, Phoenix II A/S. This action is the latest step in a bitter disagreement over a wind turbine installation vessel that is nearly finished.
On November 28, Seatrium Energy (International) Pte Ltd submitted the notice of arbitration following the guidelines set by the London Maritime Arbitrators Association. They are asking for a ruling that Maersk incorrectly terminated a contract valued at $475 million on October 9, 2025. Seatrium is also requesting that Maersk fulfill their contract obligations, including taking delivery of the vessel by January 30, 2026, and making the payment that is due at delivery.
“SEI is seeking, among other things, a declaration that the contract is valid,” the company mentioned in its announcement, stating that they would also seek damages if needed.
The wind turbine installation vessel is about 98.9% complete and was initially contracted in March 2022 to support the Empire Wind 1 project off the coast of the U.S. Maersk Supply Service has promoted the vessel’s design as being 30% more efficient than traditional jack-up vessels because it can use feeder vessels to deliver components.
The argument has escalated quickly during the past two months. After receiving a termination notice from Maersk on October 9, Seatrium rejected it on October 12, claiming that “the buyer is in repudiatory breach of the contract” and retaining “all rights against the buyer for wrongful termination.” The day after Seatrium announced the vessel would be delivered by January 30, 2026, Maersk submitted its own notice of arbitration on October 21 without detailing any specific claims.
The financial stakes in this dispute are significant. Under the contract, the buyer must pay Seatrium 80% of the contract price upon delivery of the vessel. Seatrium highlighted that this contract is “the only remaining contract in the Group’s order book that does not have progressive milestone payments,” calling it a “legacy contract” from before the merger that created Seatrium.
The termination of the contract comes at a time when the Empire Wind project is also facing major difficulties due to regulatory issues. In April 2025, the Bureau of Ocean Energy Management temporarily suspended construction on Empire Wind 1, although this order was lifted on May 19. The $5 billion Empire Wind 1 project is aimed at powering 500,000 homes in New York by 2027 and is reported to be over 30% complete.
Seatrium stated that they have considered “all viable solutions, including discussions with the end-customer, Empire Offshore Wind LLC, to directly deliver the vessel” while still working on its construction. The company warned that “the financial impact from the SEI Notice of Arbitration, given this developing situation, is highly dependent on the final outcome,” and promised to keep shareholders updated in line with listing rules as more information becomes available.
Seatrium advised shareholders to “be cautious when dealing with the shares or other securities of the Group” and confirmed that further announcements will be made regarding any important developments.