Maersk Cancels Nearly Completed Wind Turbine Installation Vessel Contract with Seatrium

Singapore-based engineering firm Seatrium Limited has announced receiving a notice of termination from Maersk Offshore Wind concerning a nearly completed Wind Turbine Installation Vessel (WTIV). The vessel, contracted in March 2022 at a value of approximately USD 475 million, was intended for deployment at the Empire Wind 1 offshore wind farm in US waters.

Contract and Termination Details

Awarded initially to Sembcorp Marine Rigs & Floaters Pte Ltd, now operating as Seatrium Energy (International) Pte Ltd (SEI), the WTIV project had reached about 98.9 percent completion as of October 9, 2025.

SEI has stated it will explore various solutions, including engagements with the end-customer, Empire Offshore Wind LLC, and review the validity of the termination notice and related allegations. The company is also assessing its legal and commercial options, including contesting the termination and seeking remedies for wrongful termination.

Background on Empire Wind Project

The Empire Wind 1 is a large-scale renewable energy project designed to supply power to 500,000 New York homes by 2027. Currently valued at around USD 5 billion, this offshore wind farm had encountered regulatory hurdles during the Trump administration's tenure. 

In April 2025, the Bureau of Ocean Energy Management (BOEM) temporarily halted construction activities, though this stop-work order was lifted in May.

Despite the challenges, the construction of Empire Wind 1 has progressed to over 30 percent completion. However, uncertainties persist, as co-developer Equinor recently expressed doubts about pursuing the Empire Wind 2 project after new regulatory reviews set by the US government earlier this month.

Implications for Seatrium and the Offshore Wind Sector

Seatrium advised shareholders to exercise caution when trading its securities, committing to provide further updates on material developments. The termination poses significant implications for Seatrium's positioning in the offshore renewables sector, potentially affecting its legal strategy and future project pipeline.

As the offshore wind market evolves amid regulatory uncertainties in the US, the resolution of this WTIV contract termination will be closely watched by industry stakeholders and investors focused on renewable infrastructure.