Overview
- Seatrium said it received a notice of arbitration from Maersk Offshore Wind on Oct. 21 referring the contract dispute to London under LMAA terms.
- Maersk terminated the US$475 million WTIV contract on Oct. 9 when the vessel was reported 98.9% complete, according to Seatrium.
- Seatrium rejected the termination on Oct. 12, alleged repudiatory breach, and reserved its rights for what it calls a wrongful cancellation.
- On Oct. 20, Seatrium notified the buyer that it intends to deliver the vessel on Jan. 30, 2026 despite the attempted termination.
- A Maersk spokesperson previously cited delays as a factor for canceling, and Empire Wind developer Equinor is assessing implications after an earlier US stop‑work order.