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Seatrium files notice of arbitration over US$475 mil contract in dispute with Maersk

The Edge Singapore
The Edge Singapore  • 2 min read
Seatrium files notice of arbitration over US$475 mil contract in dispute with Maersk
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Seatrium, taking a view that a customer is trying to walk away from a US$475 million contract, has filed a notice of arbitration.

On Oct 9, Maersk Offshore Wind, a unit of the Danish shipping giant, terminated the contract given to Seatrium to build a wind turbine installation vessel, putting forward "allegations" which were not specified.

The contract was awarded in March 2022 and the vessel, already 98.9% built, is to be used in the US offshore wind farm Empire Wind 1.

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